Coal of Africa Limited UPDATE: RECOMMENDED OFFER FOR UNIVERSAL COAL PLC (4460C)
June 28 2016 - 2:01AM
UK Regulatory
TIDMCZA
RNS Number : 4460C
Coal of Africa Limited
28 June 2016
UPDATE: RECOMMENDED OFFER FOR UNIVERSAL COAL PLC
28 June 2016
Coal of Africa Limited (ASX, AIM and JSE: CZA) ("CoAL") and
Universal Coal Plc (ASX: UNV) ("Universal") provide the following
update on CoAL's recommended offer for the entire issued and to be
issued share capital of Universal (the "Offer").
Unless otherwise defined in this announcement, capitalised terms
used in this announcement have the meaning given to them in the
offer document published by CoAL on 21 December 2015 (the "Offer
Document").
Co-Operation Agreement
It was announced on 17 June 2016 that CoAL had extended the
Offer Period of the Offer, such that the Closing Date is 15 July
2016. On 7 June 2016 the parties announced that pursuant to a Deed
of Variation, CoAL and Universal had agreed to amend the terms of
the Co-operation Agreement entered into in connection with the
Offer such that the date by which the Effective Date must have
occurred be extended until 24 June 2016. While the Co-Operation
Agreement and the mutual obligations contained therein have
therefore expired, the Offer remains open for acceptance until 15
July 2016.
Board and Shareholder Support
The Universal Independent Directors continue to recommend that
Universal Shareholders accept the Offer, as they have done so in
respect of their own Universal Shares, subject to statutory and
fiduciary exceptions that relate to the discharge of their duties
as directors. Universal's two largest shareholders, Coal
Development Holdings B.V., and IchorCoal NV have also accepted the
Offer.
Status of Acceptances
As at the date of this Notice, CoAL has received acceptances of
the Offer from Universal Shareholders (including Universal CDI
Holders) representing 479,112,711 Universal Shares, equating to
approximately 94.46 % of the total number of Universal Shares on
issue. This includes consideration elections for the Loan Note
Alternative from Universal Shareholders (including Universal CDI
Holders) representing 255,314,984 Universal Shares equating to
approximately 50.39% of the total number of Universal Shares in
issue.
Enquiries
CoAL Telephone: +27 (0)10
003 8000
David Brown, De Wet Schutte
and Celeste Riekert
Qinisele Resources (Proprietary) Telephone: +27 (0)11
Limited (Financial Adviser to 883 6358
CoAL)
Robert Philpot and Dennis Tucker
Peel Hunt LLP (Nominated Adviser Telephone: + 44 (0)20
and Broker to CoAL) 7418 8900
Matthew Armitt and Ross Allister
Investec Bank Limited (JSE Sponsor Telephone: +27 (0)11
for CoAL) 286 7000
Robert Smith and Tanya Cesare
Tavistock (United Kingdom PR Telephone: +44 20
Adviser to CoAL) 7920 3150
Jos Simson and Emily Fenton
Universal Telephone: +27 12
460 0805
Tony Weber and Daryl Edwards
Tamesis Partners LLP Telephone: +44 (0)
(Financial Adviser to Universal) 207 389 5016
Richard Greenfield
APP Securities Pty Limited (Financial Telephone: +61 2
Adviser to Universal) 9226 0036
Nick Dacres-Mannings
FCR (PR Adviser to Universal) Telephone: +61 2
8264 1003
Robert Williams
This information is provided by RNS
The company news service from the London Stock Exchange
END
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