Company announcements

Expiry of options

20 May 2014

The listed Firestone Energy Limited (‘FSE’) Options (ASX code: FSEO) numbering 48,395,000 and convertible into one ordinary fully paid FSE share on the payment of 4 cents, expire on 31 May 2014. The Options have not traded in the last 9 months. The option exercise price is $0.04 and the underlying securities have traded at $0.001 in the last 12 months. FSE has not sent individual notices (as required by Appendix 6A) to option holders regarding the expiry of the options. FSE does not expect any options holders to exercise these options before expiry.

Below is information required under Appendix 6A – clause 6.1 (a) to (j) to be supplied to Option holders

  1. The name of the holder of the +convertible securities.
  2. The number of +convertible securities held, and the number of +securities to be issued on their conversion.

    In total – 43,395,000 listed options – 1 option converts to 1 ordinary fully paid share on the payment of the exercise price of $0.04.
  3. The conversion or exercise price. - Exercise price - $0.04.
  4. In the case of options, the date due date for payment. – by 31 May 2014.
  5. In the case of options, the consequences of non-payment and, in the case of other +convertible securities, the consequences of not exercising the right of conversion. – if the option’s (ASX code: FSEO) are not exercised by 31 May 2014, they will lapse and any right to acquire an ordinary share by payment of the exercise price ceases.
  6. The date that +quotation of the +convertible securities will end (which is 5 +business days before the expiry date for options or final conversion date for other +convertible securities, unless there is a later maturity date). – quotation of the options will cease 23 May 2014.
  7. The latest available +market price of the +underlying securities. – Firestone Energy Limited Ordinary shares (ASX code: FSE) closed 19 May 2014 at $0.006.
  8. The highest and lowest +market price of the +underlying securities during the 3 months immediately before the notice is issued, and the dates of those sales. – FSE’s closing price since 19 February 2014 has been in the range of $0.006 to a high of $0.008
  9. The information required by (g), (h) and (j) in respect of all quoted +securities that would be, if fully paid, in the same class as the +underlying securities. – n/a
  10. In case of options, the details of any underwriting agreement notified under rule 3.11.3. – n/a

Stephen W Miller
CEO, Firestone Energy Limited
Tel: Australia (+61 08 9287 4600)
South Africa (+27 11 706 3548)

About Firestone Energy

Firestone Energy Limited is an independent, Australian exploration and development company listed on the Australian Stock Exchange Ltd (ASX) and the Johannesburg Stock Exchange (JSE). Firestone Energy has entered into a Joint Venture with Sekoko Resources (Pty) Ltd through which Firestone Energy has acquired the right to 60% participation interests in the Waterberg Coal Project located in Lephalale area, Limpopo Province, South Africa.

The first stage of the project is to develop the Smitspan mine which has a substantial measured thermal coal resource and to develop the Vetleegte mine which is a substantial metallurgical coal deposit.

Firestone Energy is committed to becoming a profitable independent coal and energy producer at its projects in South Africa, thereby making a substantial contribution to the social and economic development of the Lephalale area and South Africa.


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