Coal of Africa Limited Stage 1 Equity Raise Cash Flow Received (8973W)

TIDMCZA

RNS Number : 8973W

Coal of Africa Limited

13 November 2014

   ANNOUNCEMENT                                                               13 November 2014

Stage 1 Equity Raise Cash Flow Received

Coal of Africa Limited ("CoAL" or "Company"), the coal exploration and project development company operating in South Africa and traded on the ASX, AIM and JSE is pleased to announce the successful completion of the Stage 1 Share Placement and the receipt of funds on the 11(th) of November 2014. The Stage 1 Placement resulted in the issue of 251 million additional shares split according to the various subscription agreements on the AIM and JSE to the value of GBP 13,805 million (US$ 21,8 million). For more information regarding the announced equity raise please refer to the announcement made on the 26(th) of August 2014.

David Brown commented:

"The receipt of funds from the Stage 1 placement is most welcome and will enable the Company to continue on our value creation strategy"

AUTHORISED BY:

David Brown

For more information contact:

 
                   Chief Executive 
 David Brown        Officer              Coal of Africa         +27 10 003 8000 
                   Chief Financial 
 Michael Meeser     Officer              Coal of Africa         +27 10 003 8000 
 Celeste Harris    Investor Relations    Coal of Africa         +27 10 003 8000 
                                         Endeavour Corporate    +61 08 9316 
 Tony Bevan        Company Secretary      Services               9100

Company advisors:

 
                                  Financial PR (United                            +44 20 7920 
 Jos Simson/Emily Fenton           Kingdom)               Tavistock                3150 
 Chris Sim/George Price/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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