25 April 2019
Riversdale Information Booths

Do you have questions about the Grassy Mountain Coal Project?

14 March 2019
31 December 2018 Half Year Financial Statements

31 December 2018 Half Year Financial Statements

13 March 2019
Hancock Bidder's Statement

Hancock Bidder's Statement

12 March 2019

Further to our letter dated 2 March 2019, I would like to update you on our priorities at Riversdale in relation to the conditional off-market takeover offer (Hancock Offer) from Hancock Corporation Pty Ltd a wholly-owned subsidiary of Hancock Prospecting Pty Ltd (Hancock).

There is significant activity underway to ensure Riversdale shareholders are fully informed about the implications of the Hancock Offer.

The Riversdale Board has appointed a team of advisors, including Macquarie Capital and Ashurst to assist it in assessing and responding to the Hancock Offer. We have also engaged Grant Thornton to prepare an Independent Expert’s Report that will contain an independent valuation of Riversdale and its opinion as to whether the Hancock Offer is fair and reasonable and the reason for its opinion.

Until we are in a position to assess and respond to the Hancock Offer, the Riversdale Board continues to recommend that shareholders take no action with respect to the Hancock Offer.

There will be plenty of time for you to accept the Hancock Offer, if that is what you decide to do.

Maximising Value for Shareholders

Given that Riversdale is in a potential change of control situation, a number of well-credentialed parties have expressed interest in Riversdale and its Grassy Mountain Project. This is not surprising as Tier 1 coking coal projects such as the Grassy Mountain Project are scarce and quality coking coal assets tend to be concentrated in the hands of a few major global players.

At this stage it is too early to tell whether a higher offer will eventuate, but we will keep you informed of all material developments and will continue to progress our engagement with interested parties.

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