Coal of Africa Limited Result of AGM (7421T)

TIDMCZA

RNS Number : 7421T

Coal of Africa Limited

22 November 2013

ANNOUNCEMENT 22 November 2013

Results of Annual General Meeting

The Directors of the Coal of Africa Limited (the "Company" or "CoAL") are pleased to announce that at the Annual General Meeting of Shareholders held earlier today, the resolutions put to the meeting were passed unanimously by a show of hands.

In accordance with ASX Listing Rule 3.13.2 and Section 251AA(2) of the Corporations Act 2001, the Company hereby provides the following information on proxy votes received for each resolution:

 
                                            For          Against         Proxy      Abstain        Total 
                                                                       Discretion 
 Resolution One 
  Adoption of Remuneration Report        742,698,530     26,579,960        93,959     81,298     769,453,747 
                                      --------------  -------------  ------------  ---------  -------------- 
 Resolution Two 
  Election of Director - Mr Michael 
  Meeser                                 758,711,309     10,461,442       206,423     84,573     769,463,747 
                                      --------------  -------------  ------------  ---------  -------------- 
 Resolution Three 
  Re-election of Director - Mr 
  David Murray                           767,511,811      1,669,140       208,223     74,573     769,463,747 
                                      --------------  -------------  ------------  ---------  -------------- 
 Resolution Four 
  Re-election of Director - Mr 
  Rudolph Torlage                        763,527,818      5,644,993       206,423     84,513     769,463,747 
                                      --------------  -------------  ------------  ---------  -------------- 
 Resolution Five 
  Approval of CoAL Employee Share 
  Option Plan                            754,255,767     15,024,357        28,700     90,497     769,399,321 
                                      --------------  -------------  ------------  ---------  -------------- 
 Resolution Six 
  Issue of Options to Michael 
  Meeser                                 756,427,588     12,850,336        28,700     91,697     769,398,321 
                                      --------------  -------------  ------------  ---------  --------------

Following the approval of shareholders Mr Meeser will be issued 4,125,000 options, for nil consideration, at an exercise price of 2 South African Rand (approximately 12.17 pence) per Share. 1,375,000 of the options will become exercisable on each of 1 June 2014, 1 June 2015 and 1 June 2016. The expiry date for the Options is 1 June 2018. Mr Meeser is also the beneficial owner of 200,000 shares representing 0.02% of the Company's issued share capital.

For more information contact:

 
                                                                +27 11 575 
 David Brown       Executive Chairman    Coal of Africa          4363 
                   Chief Financial                              +27 11 575 
 Michael Meeser     Officer              Coal of Africa          4363 
                                                                +27 11 575 
 Celeste Harris    Investor Relations    Coal of Africa          6857 
                                         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 
 Chris Sim/Jeremy                                 Investec Bank           +44 20 7597 
  Ellis                   Nominated Adviser        plc                     5970 
 Charmane Russell/Jane    Financial PR (South     Russell & Associates    +27 11 880 
  Kamau                    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 /MbeuYashu, including CoAL's Makhado Project (coking and thermal coal).

This information is provided by RNS

The company news service from the London Stock Exchange

END

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