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Pin to quick picksMc Mining Regulatory News (MCM)

Share Price Information for Mc Mining (MCM)

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Share Price: 8.00
Bid: 7.50
Ask: 8.50
Change: 0.00 (0.00%)
Spread: 1.00 (13.333%)
Open: 8.00
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UPDATE: RECOMMENDED OFFER FOR UNIVERSAL COAL PLC

31 May 2016 07:00

RNS Number : 6381Z
Coal of Africa Limited
31 May 2016
 

UPDATE: RECOMMENDED OFFER FOR UNIVERSAL COAL PLC

31 May 2016

Coal of Africa Limited (ASX, AIM and JSE: CZA) ("CoAL") provides the following update on CoAL's recommended offer for the entire issued and to be issued share capital of Universal Coal Plc (ASX: UNV) (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") as supplemented and varied by subsequent notices.

Signature of Subscription Agreements

CoAL is pleased to advise that it has now signed the two subscription agreements with Hengshun Zhongsheng Group Co., Ltd and Summer Trees PTE. Ltd ("the Subscribers") pursuant to which the Subscribers will subscribe for 229,885,058 and 114,942,529 CoAL Shares respectively at a price of US$0.0435 (approximately A$0.05932[1]) per CoAL Share, for total proceeds of US$15 million ("New Subscription Agreements")

These New Subscription Agreements will replace the YBI Subscription Agreement, which has been terminated, which was previously intended to be replaced by a US$15 million loan to be made available to CoAL by YBI as first noted in the notice of variation dated 8 April 2016.

The New Subscription Agreements are conditional upon:

a) the Offer having been declared by CoAL to have become unconditional in all respects; and

 

b) the directors of CoAL (or a duly authorised committee of CoAL directors) having approved and authorised the issue of the CoAL shares to the Subscribers and the Subscribers having received a copy of the authorising resolution.

No further shareholder approvals will be required in order to facilitate the issue of CoAL Shares to the Subscribers, noting that CoAL has been granted an extension until 3 August 2016 to issue the Shares approved at the General Meeting held on 3 March 2016.

Enquiries

CoAL

Telephone: +27 (0)10 003 8000

David Brown, De Wet Schutte and Celeste Riekert

Qinisele Resources (Proprietary) Limited (Financial Adviser to CoAL)

Telephone: +27 (0)11 883 6358

Robert Philpot and Dennis Tucker

Peel Hunt LLP (Nominated Adviser and Broker to CoAL)

Telephone: + 44 (0)20 7418 8900

Matthew Armitt and Ross Allister

Investec Bank Limited (JSE Sponsor for CoAL)

Telephone: +27 (0)11 286 7000

Robert Smith and Tanya Cesare

Tavistock (United Kingdom PR Adviser to CoAL)

Telephone: +44 20 7920 3150

Jos Simson and Emily Fenton

 


[1] Exchange rate AUD$1.00:USD$0.7335 as published by the Reserve Bank of Australia on 12 May 2016

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCBRGDUSSXBGLG
Date   Source Headline
30th Apr 202410:15 amRNSRECEIPT OF SHAREHOLDER NOTICE
30th Apr 20249:31 amRNSAppendix 5B
30th Apr 20249:30 amRNSACTIVITIES REPORT FOR THE QUARTER ENDED 31 MAR 24
25th Apr 20242:00 pmRNSDirectorate Change
23rd Apr 20247:00 amRNSChange in substantial holding
22nd Apr 20247:00 amRNSChange in substantial holding
19th Apr 20248:16 amRNSResignation of Independent Non-Executive Director
18th Apr 20249:00 amRNSGoldway - Sixth Supplementary Bidder's Statement
15th Apr 20247:24 amRNSGoldway - Fifth supplementary bidder's statement
15th Apr 20247:00 amRNSChange in substantial holding
10th Apr 20248:00 amRNSResponse to Offer Being Declared Unconditional
8th Apr 20247:00 amRNSNotice of Variation of Unconditional Offer
8th Apr 20247:00 amRNSSatisfaction of Minimum Acceptance Condition
5th Apr 20247:00 amRNSGoldway - Notice of Status of Defeating Conditions
5th Apr 20247:00 amRNSChange in substantial holding
4th Apr 20244:30 pmRNSExtension of Offer Period for Off-Market Takeover
4th Apr 20247:00 amRNSGoldway - Notice of Extension of Offer Period
3rd Apr 202411:00 amRNSResponse to 4th Supplementary Bidder's Statement
2nd Apr 20247:00 amRNSChange in substantial holding
28th Mar 20247:00 amRNSGoldway - Fourth supplementary bidder's statement
25th Mar 20248:49 amRNSResponse to 3rd Supplementary Bidder's Statement
22nd Mar 20247:00 amRNSGoldway Capital Investment - Status of Conditions
22nd Mar 20247:00 amRNSChange in substantial holding
21st Mar 20247:00 amRNSGoldway - Third supplementary bidder's statement
20th Mar 20241:01 pmRNSResponse to 2nd Supplementary Bidder's Statement
19th Mar 20247:01 amRNSChange in substantial holding
18th Mar 20247:33 amRNSSupplementary Target's Statement - DO NOT ACCEPT
15th Mar 202410:15 amRNSInterim Financial Report
15th Mar 20249:41 amRNSHalf-year Results
14th Mar 20249:51 amRNSSecond Bidder's Statement - Do Not Accept
12th Mar 20247:19 amRNSOffer Update
8th Mar 20249:31 amRNSNon-Binding Indicative Offer from Vulcan Resources
4th Mar 20247:00 amRNSChange in substantial holding
4th Mar 20247:00 amRNSRelease of Target Statement
19th Feb 20247:00 amRNSGoldway Capital - Dispatch of Bidder's Statement
15th Feb 20248:04 amRNSOff-Market Takeover Bid - Do NOT Accept the Offer
15th Feb 20247:00 amRNSGoldway Capital - Supplementary Bidder's Statement
2nd Feb 202411:30 amRNSTakeover Bid - Receipt of Bidder's Statement
2nd Feb 20247:00 amRNSGoldway Capital Investment - Bidder's Statement
31st Jan 20248:45 amRNSAppendix 5B
31st Jan 20248:40 amRNSActivities Report for the Quarter ended 31 Dec 23
24th Jan 20249:30 amRNSNon-Binding and Indicative Proposal Update
22nd Dec 20238:32 amRNSNon-Binding and Indicative Proposal Update
22nd Dec 20237:30 amRNSOperations & Trading Update
18th Dec 20233:30 pmRNSDirector/PDMR Shareholding
18th Dec 20233:02 pmRNSREVISED NON-BINDING AND INDICATIVE PROPOSAL
30th Nov 20232:31 pmRNSResult of Annual General Meeting
27th Nov 20233:03 pmRNSAnnual General Meeting Details
8th Nov 20237:15 amRNSIssue of Equity
2nd Nov 20231:15 pmRNSReceipt of Notice of Intention to Make a Takeover

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