The joint business rescue practitioners of Optimum Coal Holdings announced on Thursday that all outstanding obligations in respect of the sale of the assets of Optimum Holdings to Tegeta Exploration & Resources had been performed and that the transaction would become effective on April 15. Joint business rescue practitioners Piers Marsden and Peter van den Steen said the conclusion of the transaction would result in the termination of the business-rescue proceedings. “Optimum Coal Mine will operate as a going concern under the operational control of the business rescue practitioners until the practitioners are satisfied that Optimum Coal Mine is no longer financially distressed,” they said in a statement.
