Conversion of Options
January 19 2010 - 2:00AM
UK Regulatory
TIDMCZA
RNS Number : 7513F
Coal of Africa Limited
19 January 2010
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ANNOUNCEMENT 19 JANUARY 2010
CONVERSION OF OPTIONS AND SECONDARY TRADING NOTICE
Coal of Africa Limited ('CoAL' or the 'Company') confirms it has today issued
125,002 ordinary shares pursuant to the exercise of Class A Options at an
exercise price of 50 cents per share ("Shares").
Application will be made for the 125,002 Shares to be admitted to trading on the
London Stock Exchange's AIM market for listed securities ("Admission").
Admission is expected to become effective on 25 January 2010. The Shares will
rank pari passu with the Company's existing Ordinary Shares.
Following the admission of the Shares, the number of Ordinary Shares on issue
will be 474, 538,913.
An Appendix 3B will be lodged following this announcement.
Secondary Trading Notice Pursuant to Paragraph 708A(5)(e) of the Corporations
Act 2001 ("Act")
The Act restricts the on-sale of securities issued without disclosure, unless
the sale is exempt under section 708 or 708A of the Act. By giving this notice,
a sale of the Shares noted above will fall within the exemption in section
708A(5) of the Act.
The Company hereby notifies ASX under paragraph 708A(5)(e) of the Act that:
(a) the Company issued the Shares without disclosure to investors under Part
6D.2 of the Act;
(b) as at 19 January 2010, the Company has complied with the provisions of
Chapter 2M of the Act (other
than section 319 in relation to a
financial year ended in the calendar year 2004) as they apply to the
Company, and section 674 of the Act; and
(c) as at 19 January 2010 there is no information:
a. that has been excluded from a continuous
disclosure notice in accordance with
the ASX
Listing Rules; and
b. that investors and their professional advisers
would reasonably require for the
purpose of
making an informed assessment of:
i. the assets and liabilities,
financial position and performance, profits and
losses and prospects of the Company; or
ii. the rights and liabilities attaching to the relevant
Shares.
AUTHORISED BY:
Shannon Coates
Company Secretary
For more information contact:
Simon Farrell, Managing Director CZA +61 417 985 383 or +61 8 9322 6776
Peter Bacchus/ Alastair Cochran
Morgan Stanley
+44(0) 20 7425 8000
Simon Edwards/ Chris Sim
Evolution Securities+44(0) 20 7071 4300
Jos Simson/ Leesa PetersConduit PR
+44(0) 20 7429 6603
Melanie de Nysschen Macquarie First South Advisers+27(11) 583 2000
About CoAL:
Coal of Africa Limited ("CoAL") is an AIM/ASX/JSE listed coal mining and
development company operating in South Africa. CoAL has three key projects
including the 113 million tonne ('mt') Mooiplaats thermal coal mine, the 656 mt
Vele coking coal project and the 1.3 bn tonne Makhado coking coal project
(including the Rio farm swap).
The Mooiplaats coal mine commenced production in 2008 and is currently ramping
up to produce 2 mtpa. CoAL's Vele and Makhado coking coal projects are expected
to start production in H1 2010 and 2011 respectively producing an initial 2 mtpa
rising to a combined annual output of 10 mtpa of coking coal.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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