Coal of Africa Limited Successful completion of Equity Raise (9910O)
June 02 2015 - 10:35AM
UK Regulatory
TIDMCZA
RNS Number : 9910O
Coal of Africa Limited
02 June 2015
ANNOUNCEMENT 2 June 2015
Successful completion of Equity Raise
Coal of Africa Limited, the coal exploration and project
development company operating in South Africa, and traded on the
ASX, AIM and the JSE, is pleased to announce the successful
completion of Stage 3 of the share placement, announced on 26
August 2014. The completion of Stage 3 concludes the private
placement which raised a total of GBP38.225 million (US$59.102
million) ("Placement") in three tranches.
Stage 3 of the Placement resulted in the issue of 144 million
ordinary shares at 5.5 pence per share each ("Stage 3 Placing
Shares"), raising GBP 7.92 million (US$12.39 million).
CoAL will apply for the admission of the Stage 3 Placing Shares
to trading on AIM, the ASX and the JSE. Admission is expected to
occur on or around 3 June 2015. The Stage 3 Placement Shares will
be fully paid ordinary shares in the capital of CoAL and will rank
equally in all respects with the existing fully paid ordinary
shares on issue. Following admission there will be 1,743,368,613
shares in issue.
In addition TMM (Pty) Ltd have been granted 40 million options,
with an exercise price of ZAR 0.3 per share and are exercisable for
12 months from 1 June 2015.
David Brown, Chief Executive Officer of CoAL, commented:
"This concludes the Placement and puts CoAL in a positive
position particularly in conjunction with the recent award of the
Makhado New Order Mining Right and the deferred consideration
agreement with Rio Tinto."
For more information contact:
Chief Executive +27 10 003
David Brown Officer Coal of Africa 8000
+27 10 003
Celeste Harris Investor Relations Coal of Africa 8000
Endeavour Corporate +61 08 9316
Tony Bevan Company Secretary Services 9100
Company advisors:
Jos Simson/Emily Financial PR +44 20
Fenton (United Kingdom) Tavistock 7920 3150
Chris Sim/George
Price/Jeremy Investec Bank +44 20
Ellis Nominated Adviser plc 7597 5970
Charmane Russell/Jane Financial PR Russell & +27 11
Kamau (South Africa) Associates 880 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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