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Target’s Statement in response to the off-market Takeover Bid - Do Not Accept

Published: 2024-03-04 10:00:22 ET

MC Mining Limited
Previously Coal of Africa Limited
(Incorporated and registered in Australia)
Registration number ABN 008 905 388
ISIN AU000000MCM9
JSE share code: MCZ
ASX/AIM code: MCM

ANNOUNCEMENT                                                                     4 March 2024


  TARGET’S STATEMENT IN RESPONSE TO THE OFF-MARKET TAKEOVER BID -
                           DO NOT ACCEPT

MC Mining Limited (MC Mining or the Company) advises that it has released its formal Target's
Statement in response to the A$0.16 cash per share off-market takeover bid by Goldway Capital
Investment Limited (Goldway) (Takeover Offer).

A copy of the Target's Statement is available on the ASX website, www.asx.com.au, and on MC
Mining's website, www.mcmining.co.za, as will news of any other developments in relation to the
Takeover Offer.

The Target’s Statement sets out the Independent Board Committee's (IBC) formal response to the
Offer, including the recommendation of the IBC that Shareholders DO NOT ACCEPT the Takeover
Offer.

The IBC has also commissioned an Independent Expert’s Report which is being prepared by BDO
Corporate Finance (WA) Pty Ltd ACN 124 031 045 (BDO) and SRK Consulting (Australasia) Pty Ltd ACN
074 271 720 (SRK) as independent technical specialist.

The Independent Expert’s Report has not been finalised by BDO and SRK, however, once it is received
by the Company, the Company will issue a supplementary target's statement accompanied by the
Independent Expert's Report. This is anticipated to be on or around 18 March 2024.

Shareholders are encouraged to read the Target’s Statement, and discuss it with their legal, financial
and professional advisers. If you have any queries in relation to the Offer, please call the Target
Shareholder Line on +61 461 444 038 between 9.00am and 7.00pm (Sydney time) on Business Days (if
calling from within Australia) or between 11am - 1pm (Johannesburg time) or 9am - 11am (London
time). Alternatively, you may contact the Company Secretary by email on:
tonyb@westozcorporate.com.au.
The Offer will remain open until 7:00pm (Sydney time) on 5 April 2024, unless the Offer is extended
or withdrawn by Goldway.

The IBC look forward to your continuing support as we respond to the Takeover Offer.

Khomotso Mosehla
Chairman of the IBC
This announcement has been approved for release by the Company’s Disclosure Committee.

The information contained within this announcement is deemed by the Company to constitute inside information as
stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue
of the European Union (Withdrawal) Act 2018, as amended.



For more information contact:

       Tony Bevan                         Company                      Endeavour Corporate             +61 42 1072
                                          Secretary                    Services                        165
       Company advisers:
       Richard Johnson / Rob              Nominated                    Strand Hanson                   +44 20 7409
       Patrick                            Adviser                      Limited                         3494

       Rory Scott                         Broker (AIM)                 Tennyson Securities             +44 20 7186
                                                                                                       9031
       Marion Brower                     Financial PR                R&A Strategic                     +27 11 880
                                         (South Africa)              Communications                    3924
       BSM Sponsors Proprietary Limited is the nominated JSE Sponsor

       About MC Mining Limited:

       MC Mining is an AIM/ASX/JSE-listed coal exploration, development and mining company operating in South Africa.
       MC Mining’s key projects include the Uitkomst Colliery (metallurgical and thermal coal), Makhado Project (hard
       coking coal), Vele Colliery (semi-soft coking and thermal coal), and the Greater Soutpansberg Projects (coking and
       thermal coal).

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.