Forbes & Manhattan Coal Corp.
TSX : FMC
JSE : FMC

Forbes & Manhattan Coal Corp.

September 12, 2013 07:00 ET

Forbes Coal Announces Results of Annual General and Special Meeting of Shareholders

TORONTO, ONTARIO--(Marketwired - Sept. 12, 2013) - Forbes & Manhattan Coal Corp. (TSX:FMC)(JSE:FMC) announces that shareholders voted in favour of all items of business brought before them at the company's Annual General and Special Meeting of Shareholders ("AGM") held in Toronto, Ontario, on September 11, 2013.

The nominees listed in the Forbes Coal management proxy circular for the 2013 AGM were re-elected as directors of Forbes Coal. Detailed results are set out below.

% Votes For % Votes Withheld
Stan Bharti 98.40% 1.60%
John Dreyer 98.46% 1.54%
Michael Price 98.46% 1.54%
Stephan Theron 98.47% 1.53%
Thomas Roussel 98.46% 1.54%
Craig Wiggill 98.46% 1.54%
Bernard Wilson 98.46% 1.54%

Shareholders approved the appointment of McGovern, Hurley, Cunningham LLP as auditors of Forbes Coal until the next annual meeting of shareholders and also approved the re-approval of the company's stock option plan and the amendment to the Forbes Coal by-laws to require advance notice in circumstances where nominations of persons for election to the board of directors are made by shareholders. Shareholders also approved the resolution authorizing the issuance of common shares in the capital of the company to Resource Capital Fund V L.P. upon conversion of the principal amount of a proposed convertible loan from RCF to Forbes Coal along with accrued interest and the related establishment fee.

About Forbes Coal

Forbes Coal is a coal producer in southern Africa. It holds a majority interest in two operating mines through its 100% interest in Forbes Coal (Pty) Ltd., a South African company ("Forbes Coal Dundee") which has a 70% interest in Zinoju Coal (Pty) Ltd. ("Zinoju"). Zinoju holds a 100% interest in the Magdalena bituminous mine and the Aviemore anthracite mine in South Africa (collectively, "the Forbes Coal Dundee Properties"). Forbes Coal has an experienced coal-focused management team.

Cautionary Notes:

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the results of the annual general and special meeting of shareholders. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Forbes Coal to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, foreign operations, political and social uncertainties; a history of operating losses; delay or failure to receive board or regulatory approvals; timing and availability of external financing on acceptable terms; not realizing on the potential benefits of the proposed transaction; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of mineral products; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and, delays in obtaining governmental approvals or required financing or in the completion of activities. Although Forbes Coal has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forwardlooking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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