ICHOR Coal N.V.: Convertible bonds restructure

NOTICE IS HEREBY GIVEN that the Meeting of the Bondholders convened by the Issuer for 2 June 2017 by the Notice dated 4 May 2017 as notified through the clearing systems to the Bondholders was adjourned through lack of a quorum and that the adjourned meeting of the Bondholders will be held at the offices of Sapinda Holding B.V., 23 Savile Row London on 20 June 2017 at 12 noon. (London time) for the purpose of considering and, if thought fit, passing the following Resolution which will be proposed as an Amendment of certain conditions of Ichor Coal N.V. convertible bonds

Ichor Coal N.V. (IchorCoal) is pleased to announce that at a meeting of its bondholders on 20 June 2017, bondholders voted in favour of an extraordinary resolution to amend certain terms and conditions of the EUR 77,600,000 8% Convertible Bonds due 2017.

In terms of this resolution, with effect from 7 June 2017:

- the fixed interest payable on the bonds will be reduced from 8% per annum to 5%.

- The conversion price of the bonds will be reduced from €4.50 to €0.70;

- The maturity of the bonds will be extended by 2 years.

An amendment and restatement agreement has been signed which is available to bondholders on request.

Ichor Coal N.V.

The management (board)

Language: English
Company: Ichor Coal N.V.
2 Bruton Road Block C Nicol Main Office Park
Bryanston 2191,
South Africa
Telefon: [phone]
Fax: [phone]
E-Mail: [e-mail]
Internet: www.ichorcoal.com
ISIN: NL0010022307
WKN: A1JQEX
Listed: Regulated Unofficial Market in Frankfurt (Basic Board), Hamburg, Stuttgart