Issue of Shares and Secondary Trading Notice (9709T)
December 15 2011 - 2:00AM
UK Regulatory
TIDMCZA
RNS Number : 9709T
Coal of Africa Limited
15 December 2011
ANNOUNCEMENT 15 DECEMBER 2011
ISSUE OF SHARES AND SECONDARY TRADING NOTICE
Further to the announcements of 3 November 2011 and 14 December
2011 regarding the private placement to raise gross proceeds of
approximately US$106,000,000 (equivalent of GBP66.3 million/South
African Rand 845 million/A$102 million), through the issue of
130,000,000 new ordinary shares ("Ordinary Shares") in Coal of
Africa Limited (the "Company") at an issue price of GBP0.51
(equivalent of A$0.874) ("Placement"), the Company announces that
it has today issued the remaining 50,323,963 Ordinary Shares (the
"Conditional Placing Shares") following shareholder approval at a
general meeting held on 14 December 2011.
Following the admission of the Conditional Placing Shares, the
number of Ordinary Shares in issue will be 662,284,573.
The Australian Corporations Act 2005 (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 the Company giving
this notice, any on-sale of the Conditional Placing Shares noted
above will fall within the exemption in section 708A(5) of the
Act.
The Company hereby notifies the Australian Stock Exchange
("ASX") under paragraph 708A(5)(e) of the Act that:
(a) the Company issued the Conditional Placing Shares without
disclosure to investors under Part 6D.2 of the Act;
(b) as at 15 December 2011 the Company has complied with the
provisions of Chapter 2M of the Act as they apply to the Company,
and section 674 of the Act; and
(c) as at 15 December 2011 there is no information:
(i) that has been excluded from a continuous disclosure notice
in accordance with the ASX Listing Rules; and
(ii) that investors and their professional advisers would
reasonably require for the purpose of making an informed assessment
of:
A. the assets and liabilities, financial position and
performance, profits and losses and prospects of the Company;
or
B. the rights and liabilities attaching to the Conditional Placing 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/ 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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