Announcement Details

ASX URL: http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=wec#headlines


White Energy Company Limited (ASX:WEC; OTCQX: WECFY) (White Energy) is pleased to announce that it’s wholly owned subsidiary, White Energy Mining Pty Limited, has today extended the offer period under its takeover bid for all of the ordinary shares in South Australian Coal Limited (SAC).

The offer period is now scheduled to close at 5.00pm (Sydney time) on 28 July 2010. A formal notice of variation has been lodged with ASIC and sent to SAC shareholders.

The extension of the offer period follows significant support of the transaction from the shareholders of both White Energy and SAC. At a meeting of the shareholders of White Energy on 12 July, the shareholders of White Energy passed all resolutions required to implement the offer.

In addition, as at 12 July 2010, White Energy had received acceptances in respect of 74.79% of SAC’s issued share capital, indicating a strong level of support for the offer by SAC shareholders.

White Energy encourages those SAC shareholders who have not yet accepted the offer to do so and to take part in this exciting transaction for both White Energy and SAC.