Last checked at 19 Dec 2014 10:00
ANNOUNCEMENT 19 December 2014
Completion of Share Placement
Coal of Africa Limited, the coal exploration and project development company operating in South Africa and traded on the ASX, AIM and JSE is pleased to announce the successful completion of Stage 2 of the Share Placement, announced on 26 August 2014, and the receipt of funds. The Stage 2 Placement resulted in the issue of 300 million additional ordinary shares at GBP 0.055 per share each, raising GBP 16.5 million (US$ 25.9 million). This completes the second stage of the three stage process resulting in the placement of a total 551 million ordinary shares in total at a price of GBP 0.055 each, raising GBP 30.3 million (US$ 47.8million). The third stage will see the placement of a further 144 million shares at GBP 0.055 on or around 29 April 2015.
AUTHORISED BY:
David Brown
For more information contact:
David Brown | Chief Executive Officer | Coal of Africa | +27 10 003 8000 |
Michael Meeser | Chief Financial Officer | Coal of Africa | +27 10 003 8000 |
Celeste Harris | Investor Relations | Coal of Africa | +27 10 003 8000 |
Tony Bevan | Company Secretary | Endeavour Corporate Services | +61 08 9316 9100 |
Company advisors:
Jos Simson/Emily Fenton | Financial PR (United Kingdom) | Tavistock | +44 20 7920 3150 |
Chris Sim/George Price/Jeremy Ellis | Nominated Adviser | Investec Bank plc | +44 20 7597 5970 |
Charmane Russell/Jane Kamau | Financial PR (South Africa) | Russell & Associates | +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 Vele Colliery (coking and thermal coal), the Greater Soutpansberg Project /MbeuYashu, including CoAL's Makhado Project (coking and thermal coal).