(Administrators Appointed) (Receivers and Managers Appointed)
C/- KPMG Restructuring Services
PO Box H67
Australia Square NSW 1215
Tel: +61 2 9335 700
Fax: +61 2 9335 7001
ACN 129 954 365
11 April 2017
NOTIFICATION OF OUTCOME OF RECONVENED SECOND MEETING OF CREDITORS
Sydney, New South Wales: KBL Mining Ltd (Administrators Appointed) (Receivers and
Managers Appointed) (“KBL” or “Company”) (ASX: KBL) wishes to advise that on
6 April 2017, at the Reconvened Second Meeting of Creditors of the Company (“the
Reconvened Second Meeting”), creditors resolved that the company should execute the
Proposed Deed of Company Arrangement (“the Proposed DOCA”) in substantially the same
terms as outlined in the Administrators s439A Report to Creditors dated 25 January 2017 and
Supplementary s439A Report to Creditors dated 28 March 2017.
The Proposed DOCA contemplates a recapitalisation and relisting of KBL with its primary
asset being KBL’s interest in the Sorby Hills Joint Venture. The Proposed DOCA structure
includes a share consolidation of existing shareholders and the issuance of new shares, some
of which are to be contributed to a creditors trust in satisfaction of unsecured creditor claims
as outlined in the Proposed DOCA.
The Administrators have 15 business days to work with various stakeholders to draft the Deed
associated with the Proposed DOCA and to obtain various conditions precedent to affect its
execution.
The Administrators will be in touch with creditors and shareholders in due course regarding
next steps.
Should you have a query regarding the details above, please contact the Administrators via
[email protected].
Matthew Woods
Joint & Several Voluntary Administrator
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