ALLOT: PRC: Issue of Securities - Amended Announcement

11 May 2010 2:17 pm

PRC 11/05/2010 ALLOT

REL: 1417 HRS Pike River Coal Limited

ALLOT: PRC: Issue of Securities - Amended Announcement

ISSUE OF SECURITIES Announcement in terms of listing rule 7.12.1 Amended Announcement

Please be advised of an issue of securities as follows;

(a) Class of Security - Unlisted partly paid Ordinary Shares (b) Number issued - 603,812 (c) The nominal value and issue price - $1.07 to $1.19 (no nominal value). (d) Payment was in cash. (e) Paid to 1 cent per share with the balance being due in accordance with the terms of the issue. (f) The percentage of the total class of securities issued - 9.1% (g) The reason for issue - allocation of shares to employees under the provisions of the Pike River Employee Share Ownership Plan (ESOP), (h) The specific authority for the issue - Prospectus dated 5 June 2007, and director's resolution dated 21 January 2008. (i) The terms or details of the issue - Full rights to the new shares attach when the balance of the issue price is paid. The price was set by reference to a premium over the market price, the shares are escrowed for two years, and have a final date of 5 years. (j) Total number of listed securities in existence after the issue - 359,326,822 Ordinary Shares; 64,281,875 Options (2011) (k) N/a (l) Date of issue - 11 May 2010. End CA:00194761 For:PRC Type:ALLOT Time:2010-05-11:14:17:50

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