Coal of Africa Limited Update: Recommeded Offer For Universal Coal PLC (3935P)
February 18 2016 - 2:00AM
UK Regulatory
TIDMCZA
RNS Number : 3935P
Coal of Africa Limited
18 February 2016
ANNOUNCEMENT 18 February 2016
UPDATE: RECOMMENDED OFFER FOR UNIVERSAL COAL PLC
Extension of Offer to 11 March 2016
Coal of Africa Limited (ASX, AIM and JSE: CZA) (CoAL) announces
an update on its recommended Offer for Universal Coal plc
(Universal), announced on 26 November 2015. CoAL announces that, as
at the date of this notice, it has received acceptances of the
Offer from Universal Shareholders (including Universal CDI Holders)
representing 209,308,522 Universal Shares, equating to
approximately 41.3% of the total number of Universal Shares on
issue.
Extension of Offer for Universal Coal plc
In addition, CoAL provides notice that it has varied the terms
of the Offer by extending the Offer Period such that the Closing
Date is now 11 March 2016.
CoAL now expects the Offer to proceed according to the revised
indicative timetable set out below.
The dates and times set out in the timetable below are
indicative only and may change in accordance with the terms and
conditions of the Offer, to the extent permitted by law and as
described in the Offer Document. In particular, the period during
which the Offer is open for acceptance may be further extended by
CoAL (where permitted by law).
Revised timetable
Offer Period opens (i.e. Offer 21 December
becomes open for acceptances) 2015
-------------------------------------- ---------------
CoAL General Meeting 3 March 2016
-------------------------------------- ---------------
CDI Acceptance Expiry Time 7.00pm (Sydney
time) on 7
March 2016
-------------------------------------- ---------------
Final date for receipt of TTE 1.00pm (London
Instructions and Forms of Acceptance time) on 11
March 2016
-------------------------------------- ---------------
Closing Date of the Offer (unless 1.00pm (London
the Offer Period is extended) time) on 11
March 2016
-------------------------------------- ---------------
Expected date by which settlement On or before
of consideration will first 21 March 2016
occur*
-------------------------------------- ---------------
Readmission of CoAL Shares On or around
to trading on AIM* 21 March 2016
-------------------------------------- ---------------
Trading of Consideration Shares On or around
on AIM, ASX and JSE* 21 March 2016
-------------------------------------- ---------------
* CoAL will pay the cash and/or issue the Consideration Shares
and/or Loan Notes to which accepting Universal Shareholders are
entitled within 14 calendar days of the date on which the Offer
becomes or is declared wholly unconditional or, in relation to
valid acceptances received after this date but while the Offer
remains open for acceptance, within 14 calendar days of that
acceptance.
Authorised by
David Brown
Chief Executive Officer
For more information contact:
Chief Executive +27 10 003
David Brown Officer Coal of Africa 8000
Chief Financial +27 10 003
De Wet Schutte Officer Coal of Africa 8000
Investor +27 10 003
Celeste Riekert Relations Coal of Africa 8000
Endeavour Corporate +61 08 9316
Tony Bevan Company Secretary Services 9100
Company advisors:
Matthew Armitt/Ross Nominated
Allister/ Richard Adviser and Peel Hunt +44 20
Crichton Broker LLP 7418 8900
Robert Philpot/Dennis Corporate +27 11
Tucker Advisor Qinisele Resources 883 6358
Financial
Jos Simson/Emily PR (United +44 20
Fenton Kingdom) Tavistock 7920 3150
Charmane Russell/Olwen Financial Russell & +27 11
Auret PR (South Associates 880 3924
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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