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  3. Coal of Africa Share Price
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  5. Coal Of Africa Replaces Subscription Agreement For USD15 Million Loan (ALLISS)

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Coal Of Africa Replaces Subscription Agreement For USD15 Million Loan (ALLISS)

Mon, 11th Apr 2016 11:56

LONDON (Alliance News) - Coal of Africa Ltd Monday said that, before completion of its offer for Universal Coal PLC, its subscription agreement with Yishun Brightrise Investment Pte Ltd will be replaced by a USD15 million loan agreement also with Yishun Brightrise.

Coal of Africa agreed an extension to its offer for Universal Coal last Friday to April 29, which it said Monday was to allow it and Yishun Brightrise time to finalise this loan agreement.

Coal of Africa is hoping to buy Universal Coal in a deal worth AUD126.4 million that would be classed as a reverse takeover under AIM listing rules. Universal Coal has recommended the offer, and authorities have given the deal the green light, with Coal of Africa on Friday saying it has received sufficient support from Universal Coal shareholders for the deal to proceed.

Shares in Coal of Africa were up 20% at 2.24 pence Monday afternoon.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

Copyright 2016 Alliance News Limited. All Rights Reserved.

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17 Feb 2017 15:35

Coal of Africa clears loan with equity conversion

(ShareCast News) - Coal of Africa announced on Friday that it received notice from Yishun Brightrise Investment requesting the conversion of a $10m loan to CoAL's ordinary share capital. The AIM-traded firm had entered into a loan agreement with YBI during September 2015, pursuant to which YBI advan

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2 Nov 2016 11:06

South Africa dismisses appeal against Coal of Africa's environment amendment

(ShareCast News) - AIM-listed miner Coal of Africa has announced that the South African government has dismissed an appeal against the environmental authorisation amendment for its Makhado mine in the Limpopo Province. Edna Molewa, the minister of the Department of Environmental Affairs, dismissed t

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28 Oct 2016 14:23

Coal of Africa still looking for cash-generating asset

(ShareCast News) - South-Africa focused Coal of Africa updated the market on the quarter ended 30 September on Friday. The AIM-traded company said there were no lost-time injuries recorded during the quarter, continuing on the perfect record seen in the fourth quarter of the 2016 financial year. It

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29 Jul 2016 10:07

Coal Of Africa Expects Makhado Project Construction To Start In 2017

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15 Jul 2016 12:26

Coal Of Africa Offer For Universal Coal Lapses, Deal Breaks Down

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4 May 2016 09:55

Coal Of Africa Shares Jump 48% As Its Reaches Agreement On Chapudi

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29 Apr 2016 10:36

Coal Of Africa Progresses Universal Coal Deal, Hengshun Investment

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8 Apr 2016 11:46

Coal of Africa water use licence suspended at Makhado

(ShareCast News) - Coal of Africa had its Integrated Water Use Licence on the Makhado Project suspended on Friday, following an appeal to the South African Department of Water and Sanitation, submitted by the Vhembe Mineral Resources Forum and other parties. The appeal automatically suspended the li

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8 Apr 2016 08:50

UPDATE: Coal Of Africa Water Licence Suspended, Takeover Deal Advances

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8 Apr 2016 07:17

Coal Of Africa Shares Fall As Makhado Water Use Licence Is Suspended

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14 Mar 2016 07:33

Coal Of Africa First Half Loss Widens On Foreign Exchange Loss

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11 Mar 2016 15:46

Coal of Africa bid for Universal progressing, board says

(ShareCast News) - Coal of Africa's bid for Universal Coal was progressing satisfactorily, its board said on Friday, with the company sticking to its planned timetable for the offer. The AIM-traded firm said it had received the written consent of Investec Bank to the implementation of the offer, sat

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8 Mar 2016 10:42

Coal Of Africa To Dispute Claims It Has Breached Obligations

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25 Feb 2016 16:25

AGM, EGM Calendar - Week Ahead

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