Scheme Update and Amended Timetable
Vancouver, April 28, 2015 AEST (ABN Newswire) - Coalspur Mines Limited ("Coalspur" or "Company") (
ASX:CPL) (TSE:CPT) refers to the scheme of arrangement pursuant to which it is proposed that KC Euroholdings S.à r.l. ("KCE") will acquire all of the ordinary shares in Coalspur ("Scheme"), which was recently approved by Coalspur's shareholders, and advises that the Federal Court of Australia has today granted Coalspur's request to adjourn the second court hearing. The second court hearing will now be held on 3 June 2015.
Scheme Timetable
The updated timetable for the Scheme is as follows:
Event DateSecond Court Hearing for approval of the Scheme 3 June 2015Effective Date of the Scheme 4 June 2015Last date of trading of Coalspur Shares on ASX and TSX 4 June 2015Record Date for determining entitlements to the Scheme Consideration 12 June 2015Implementation Date for the Scheme and payment of the Scheme Consideration 19 June 2015
All stated dates are indicative only. The conditions precedent to the Scheme must be either satisfied or waived prior to the second court hearing. Any changes to the above timetable will be announced to ASX and SEDAR.
The Company will continue to keep shareholders updated on the status of the Scheme as the timetable progresses.
About Coalspur Mines Limited
Coalspur Mines Limited (ASX:CPL) (TSE:CPT) is a coal development company with approximately 55,000 hectares of coal leases located within the Hinton region of Alberta, Canada. Coalspur's flagship project is Vista, which covers approximately 10,000 hectares and provides a large scale, surface mineable, thermal coal development. Vista is located adjacent to CN Rail's main line, which is suitable for the transport of coal to deepwater ports on Canada's west coast. Coalspur has secured a port allocation agreement with Ridley Terminals Inc., which is essential to the logistics supply chain necessary to export coal from Vista to the growing demand from the Asia Pacific countries.
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