Coal of Africa Limited Receipt of US$80 million from BHE (8923W)
February 01 2013 - 2:00AM
UK Regulatory
TIDMCZA
RNS Number : 8923W
Coal of Africa Limited
01 February 2013
ANNOUNCEMENT 31 January 2013
RECEIPT OF US$80 MILLION FROM BEIJING HAOHUA ENERGY
Coal of Africa Limited ("CoAL" or the "Company") confirms that
following receipt of the requisite regulatory approvals from the
Australian Foreign Investment Review Board and the authorities in
the People's Republic of China, and approval by the Company's
shareholders at the Extraordinary General Meeting held on 25
January 2013, the US$80.0 million for the Conditional Placement has
been received from Haohua Energy International (Hong Kong) Co.
Limited ("HEI"). The proceeds are in addition to the US$20.0
million received in November 2012 that formed part of the US$100.0
million investment by HEI in CoAL.
Accordingly, application has been made for 197,934,063shares to
be admitted to trading on the AIM market of the London Stock
Exchange ("AIM") based on 25 pence per share (40.4175 United States
cents per share). Admission to trading on AIM is expected to become
effective on or around 7 February 2013. The shares will rank pari
passu with the Company's existing ordinary shares of nil par value.
Application for quotation of the Shares will also be made to the
Australian Securities Exchange and the Main Board of the JSE
Limited.
Following Admission there will be 1,048,368,613 shares in
issue.
AUTHORISED BY:
John Wallington
Chief Executive Officer
For more information contact:
+27 11 575
David Brown Chairman Coal of Africa 4363
Chief Executive +27 11 575
John Wallington Officer Coal of Africa 4363
+27 11 575
Sakhile Ndlovu Investor Relations Coal of Africa 6858
Endeavour Corporate +61 08 9316
Tony Bevan Company Secretary Services 9100
Company advisors:
Jos Simson/Emily Financial PR (United +44 20 7920
Fenton Kingdom) Tavistock 3150
Investec Bank +44 20 7597
Chris Sim/Neil Elliot Nominated Adviser plc 5970
Charmane Russell/James Financial PR (South Russell & Associates +27 11 880
Duncan Africa) 3924 or
+27 82 372
5816
Investec Bank Limited is the nominated JSE Sponsor
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 Greater
Soutpansberg Project, including CoAL's Makhado Project (coking
coal) and the Mooiplaats and Woestalleen Collieries (both thermal
coal).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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