Ichor Coal N.V. announces the conclusion of a binding agreement to dispose of its entire 45.18% shareholding in Mbuyelo Coal (Pty) Ltd at a purchase consideration of EUR 95m in cash to Africa Coal Partners Limited, an investment holding company set up and managed by Duet Group Holdings Limited.
The management board and the supervisory board unanimously support the disposal of the Mbuyelo shares as announced today.
The sale is still subject to a number of conditions precedent as is customary to a transaction of this nature. Completion of the transaction is expected to occur on or before 31 January 2020.
This announcement contains information that qualifies as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.