Issue of Shares and Secondary Trading Notice (3081Q)
October 17 2011 - 7:50AM
UK Regulatory
TIDMCZA
RNS Number : 3081Q
Coal of Africa Limited
17 October 2011
ANNOUNCEMENT
ISSUE OF SHARES AND SECONDARY TRADING NOTICE
Coal of Africa Limited ('CoAL' or the 'Company') confirms it has
resolved to issue 144,912 ordinary shares at a deemed issue price
of R7.2457 each pursuant to an employment agreement with the
Managing Director of the wholly owned NiMag Group of companies
("Shares").
Application has been made for the 144,912 Shares to be admitted
to trading on the ASX, JSE and AIM market of the London Stock
Exchange ("Admission"). Admission is expected to become effective
on 18 October 2011. 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 532,284,573.
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 the date of this announcement, 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 the date of this announcement 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:
John Wallington Chief Executive Officer Coal of Africa +27 11
575 7423
Wayne Koonin Financial Director Coal of Africa +27 11 575
6797
Shannon Coates Company Secretary Coal of Africa +61 893 226
776
Chris Sim/Romil Patel/Jeremy Ellis Nominated Adviser Evolution
Securities +44 20 7071 4300
Jos Simson/Emily Fenton Financial PR Tavistock +44 207 920
3150
www.coalofafrica.com
About CoAL:
CoAL is an AIM/ASX/JSE listed coal exploration, development and
mining company operating in South Africa. CoAL's key projects
include the Vele Colliery (coking and thermal coal), the Makhado
Project (coking coal) and the Mooiplaats and Woestalleen Collieries
(both thermal coal).
The Mooiplaats Colliery commenced production in 2008 and is
currently ramping up to produce 2 Mtpa. The Woestalleen Colliery,
acquired through the acquisition of NuCoal Mining (Pty) Limited in
January 2010, currently processes approximately 2.5Mtpa of saleable
coal for domestic and export markets. The Woestalleen Complex also
incorporates three beneficiation plants with a total processing
capacity of 350,000 run of mine feed tonnes per month.
CoAL's Vele Colliery is expected to start production in the
first half of 2012. During the initial phase, the operation is
targeting 2.7 Mtpa ROM production to produce 1.0Mtpa saleable
coking coal.. The Makhado Project, CoAL's flagship project in the
Soutpansberg coalfield, is well into the feasibility stage, with a
Definitive Feasibility Study nearing completion. An application for
a New Order Mining Right for the Makhado Project was submitted in
January 2011.
In November 2010, CoAL agreed to acquire the Chapudi coal
project and several other coal exploration properties in the
Soutpansberg coal basin in South Africa from the previous owners,
including Rio Tinto. Upon completion, the acquisition of these
projects will significantly extend the scale and scope of certain
of CoAL's existing projects in the region and will more than double
the resource of the existing Makhado Project.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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