Last checked at 7 Dec 2017 16:00
ANNOUNCEMENT 7 December 2017
CHANGE OF NAME TO MC MINING LIMITED
Coal of Africa Limited's ("CoAL" or the "Company") shareholders approved the change of the Company's name ("Name Change") at the Annual General Meeting ("AGM") on 24 November 2017. The results of the AGM as well as previous announcements detailing the recently completed 20 to 1 share consolidation ("Consolidation") and Name Change are available on the Company's website www.coalofafrica.com.
The Consolidation was completed yesterday, 6 December 2017 and trading of CoAL shares listed on the AIM Market of the London Stock Exchange ("AIM") recommenced today. Following the Consolidation, the Australian Stock Exchange ("ASX") and AIM are utilising the International Securities Identification Number ("ISIN") AU000000CZA6 while the Johannesburg Stock Exchange ("JSE") will continue using the ISIN AU0000CZADC4, pending the implementation of the new Name Change ISIN.
As previously announced, the Company has received Australian Investments and Securities Commission approval to change its name to MC Mining Limited ("MC Mining"). The ASX notified the Company today that as a result of the Name Change, its new ISIN is AU000000MCM9, that will be implemented on the ASX on 8 December 2017. The ASX approved timetables previously distributed to the market anticipated that the Name Change ISIN would be received on 6 December 2017 and this delay unfortunately impedes Euroclear, the securities settling organisation for AIM transactions, from effecting the necessary system and administrative amendments required to implement the Name Change ISIN. As a result, Euroclear will not be able to process trades in the Company's shares on Friday, 8 December 2017, requiring the suspension of shares on AIM. The Company anticipates the suspension will be lifted prior to AIM market opening on Monday, 11 December 2017. A further update will be made in due course.
The Name Change will be implemented on the ASX, AIM and JSE as per the table below.
Bourse | Effective date | Name | ISIN | Ticker |
ASX | 8 December 2017 | MC Mining Limited | AU000000MCM9 | MCM |
AIM | 11 December 2017 | MC Mining Limited | AU000000MCM9 | MCM |
JSE | 11 December 2017 | MC Mining Limited | AU000000MCM9 | MCZ |
Shareholders on the South African register are reminded that due to the Name Change processes, share certificates may not be de-materialised or re-materialised between the ex-date (11 December 2017) and the record date (14 December 2017). The change in ISIN precludes the transfer of the Company's shares from or to the South African share register until record date when the Name Change process is complete.
The Company expresses its gratitude to shareholders, regulators and its advisors for their assistance during the complex Consolidation and Name Change processes.
AUTHORISED BY:
Tony Bevan
Company Secretary
For more information contact:
David Brown | Chief Executive Officer | Coal of Africa | +27 10 003 8000 |
Stephen Rowse | Business Executive | Coal of Africa | +27 10 003 8000 |
Tony Bevan | Company Secretary | Endeavour Corporate Services | +61 08 9316 9100 |
Company advisors:
Ross Allister/ Richard Crichton | Nominated Adviser and Broker | Peel Hunt LLP | +44 20 7418 8900 |
Jos Simson/ Barney Hayward/ Annabel de Morgan | Financial PR (United Kingdom) | Tavistock | +44 20 7920 3150 |
Charmane Russell/Olwen Auret | Financial PR (South Africa) | R&A Strategic Communications | +27 11 880 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 Uitkomst Colliery, Makhado Project (coking and thermal coal), Vele Colliery (coking and thermal coal) and the Greater Soutpansberg Projects (MbeuYashu).
This announcement is inside information for the purposes of article 7 of EU Regulation 596/2014.
Forward-Looking Statements
This Announcement, including information included or incorporated by reference in this Announcement, may contain "forward-looking statements" concerning CoAL that are subject to risks and uncertainties. Generally, the words "will", "may", "should", "continue", "believes", "expects", "intends", "anticipates" or similar expressions identify forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond CoAL's ability to control or estimate precisely, such as future market conditions, changes in regulatory environment and the behaviour of other market participants. CoAL cannot give any assurance that such forward-looking statements will prove to have been correct. The reader is cautioned not to place undue reliance on these forward looking statements. CoAL assumes no obligation and do not undertake any obligation to update or revise publicly any of the forward-looking statements set out herein, whether as a result of new information, future events or otherwise, except to the extent legally required.
Statements of intention
Statements of intention are statements of current intentions only, which may change as new information becomes available or circumstances change.