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Investec Bank Limited Acquires Securities of Forbes & Manhattan Coal Corp.

July 4, 2014

JOHANNESBURG, July 4, 2014 /CNW/ - Investec Bank Limited ("Investec") reports that Investec received a restructuring fee which included the issuance of 34,817,237 common share purchase warrants ("Warrants") of Forbes & Manhattan Coal Corp. ("Forbes & Manhattan").   The Warrants were issued in connection with the restructuring of the senior secured loan and revolving facility between Investec and Forbes Coal (Pty) Ltd., a subsidiary of Forbes & Manhattan.  Details of the restructuring are set out in the Amended Management Information Circular of Forbes & Manhattan dated May 27, 2014 and available on SEDAR at www.sedar.com.

If the Warrants were exercised in full, Investec would own 34,817,237 common shares of Forbes & Manhattan which would represent 46% of the issued and outstanding common shares of Forbes & Manhattan.   Immediately prior to the acquisition of the Warrants, Investec did not own, directly or indirectly, any securities of Forbes & Manhattan.  Investec will evaluate its investment in Forbes & Manhattan from time to time and may, based on an evaluation of market conditions and other circumstances, exercise some or all of the Warrants, or purchase or sell securities of Forbes & Manhattan.  The Warrants were acquired in reliance upon the accredited investor exemption under section 2.3 of National Instrument 45-106 - Prospectus and Registration Exemptions.

For further information and to obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the transactions hereunder, please see Forbes & Manhattan's profile on the SEDAR website at www.sedar.com.

SOURCE Investec Bank Limited


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Source: Canada Newswire


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