Coal of Africa Limited Receipt of US$80 million from BHE (8923W)

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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