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Response to BHE Announcement

20 Aug 2014 10:31

RNS Number : 6129P
Coal of Africa Limited
20 August 2014
 



ANNOUNCEMENT 20 August 2014

 

 

Response to Announcement by Beijing Haohua Energy Resource Co. Ltd

Coal of Africa Limited (the "Company") notes the recent announcement on the Shanghai Stock Exchange by Beijing Haohua Energy Resource Co. Ltd that one of its subsidiaries plans to acquire not more than 215 million shares in the Company for a maximum price of 5.5 pence per share.

As the Company has stated in its interim financial results released on 10 March 2014, the ability of the Company to continue as a going concern and to pay its debts as and when they fall due is dependent on, among other things, obtaining additional funding from either financial institutions or the equity markets to meet its planned commitments. In line with this, the Company is currently in discussions with a number of parties, including strategic investors, regarding a potential conditional capital raising for the Company. At this time, the discussions remain incomplete and no binding agreements have been entered into.

The Company will provide a further update to shareholders in due course.

 

Authorised by

David Brown

Chief Executive Officer

20 August 2014

 

 

 

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).

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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