Coal of Africa Limited Completion of Share Placement (2887A)

TIDMCZA

RNS Number : 2887A

Coal of Africa Limited

19 December 2014

   ANNOUNCEMENT                                                               19 December 2014

Completion of Share Placement

Coal of Africa Limited, 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 Stage 2 of the Share Placement, announced on 26 August 2014, and the receipt of funds. The Stage 2 Placement resulted in the issue of 300 million additional ordinary shares at GBP 0.055 per share each, raising GBP 16.5 million (US$ 25.9 million). This completes the second stage of the three stage process resulting in the placement of a total 551 million ordinary shares in total at a price of GBP 0.055 each, raising GBP 30.3 million (US$ 47.8million). The third stage will see the placement of a further 144 million shares at GBP 0.055 on or around 29 April 2015.

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                                                    +44 20 7597 
  Ellis                           Nominated Adviser       Investec Bank plc        5970 
 Charmane Russell/Jane            Financial PR (South     Russell & Associates    +27 11 880 3924 
  Kamau                            Africa)                                         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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