MCM.L Regulatory News (MCM)

Name of entity

Coal of Africa Limited

ABN

98 008 905 388

1

+Class of +securities issued or to be issued

Shares

2

Number of +securities issued or to be issued (if known) or maximum number which may be issued

124,998

3

Principal terms of the +securities (eg, if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)

Fully paid ordinary

4

Do the +securities rank equally in all respects from the date of allotment with an existing +class of quoted +securities?

If the additional securities do not rank equally, please state:

·; the date from which they do

·; the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

·; the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

Yes

5

Issue price or consideration

$0.50 each

6

Purpose of the issue

(If issued as consideration for the acquisition of assets, clearly identify those assets)

Conversion of unlisted options exercisable at $0.50 each on or before 30 September 2011.

7

Dates of entering +securities into uncertificated holdings or despatch of certificates

18 March 2011

Number

+Class

8

Number and +class of all +securities quoted on ASX (including the securities in clause 2 if applicable)

530,639,661

Fully paid ordinary shares

Number

+Class

9

Number and +class of all +securities not quoted on ASX (including the securities in clause 2 if applicable)

8,950,000

250,000

7,000,000

1,000,000

600,000

1,650,000

5,000,000

912,500

2,500,000

1,540,561

1

Class A Options exercisable at $0.50 each on or before 30 September 2011.

Class B Options exercisable at $2.05 each on or before 1 May 2012.

Class D Options exercisable at $1.25 each on or before 30 September 2012.

Class G Options exercisable at $1.90 each on or before 30 September 2012.

Class H Options exercisable at $1.25 on or before 1 May 2012.

Class I Options exercisable at $3.25 on or before 31 July 2012.

Class J Options exercisable at $2.74 on or before 30 November 2014.

Class K Options exercisable at $1.90 on or before 30 June 2014.

Class C Options exercisable at $1.20 on or before 9 November 2015

ESOP Options exercisable at $1.40 on or before 30 September 2015

Option to subscribe for 50 million ordinary shares for 60 pence each between 1 November 2010 and 1 November 2014, as approved by shareholders on 22 April 2010.

10

Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)

Not applicable

34

Type of securities

(tick one)

(a)

Securities described in Part 1

(b)

All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities