| Wed 23 Apr 2008, 9:37 | | CZA - CoAL - Completion Of Tranche 1 Placement To |
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CZA
CZA
CZA - CoAL - Completion Of Tranche 1 Placement To Arcelormittal
Coal of Africa Limited
(previously, "GVM Metals Limited")
(Incorporated and registered in Australia)
(Registration number ABN 008 905 388)
Share code on the JSE Limited: CZA
ISIN AU000000CZA6
Share code on the Australian Stock Exchange Limited: CZA
ISIN AU000000CZA6
(`CoAL` or `the Company`)
COMPLETION OF TRANCHE 1 PLACEMENT TO ARCELORMITTAL
Coal of Africa Limited ("CoAL" or `the Company`), the AIM/ASX/JSE listed coal
development company operating in South Africa, advises that Tranche 1 of the
Placement to ArcelorMittal as announced on 21 April 2008 is now complete.
Accordingly, a total of 46,365,000 new ordinary shares ("New Shares") have now
been allotted and issued, raising gross proceeds of GBP51,465,150. When
aggregated with ArcelorMittal`s existing shareholding in CoAL of 6,294,419
shares, the placement of Tranche 1 will result in ArcelorMittal holding a total
of 52,659,419 shares, representing 14.9% of the issued capital of the Company.
Following the admission of the New Shares, the number of shares on issue will be
353,438,917.
Tranche 2 of the agreed placement to ArcelorMittal of 13,635,000 shares remains
subject to approval by the Australian Foreign Investment Review Board and the
Company will advise of receipt of said approval and subsequent issue and
allotment of the Tranche 2 upon completion.
Secondary Trading Notice Pursuant to Paragraph 708A(5)(e) of the Corporations
Act 2001 ("Act")
The Act restricts the on-sale of securities issued without disclosure, unless
the sale is exempt under section 708 or 708A of the Act. By giving this notice,
a sale of the Shares noted above will fall within the exemption in section
708A(5) of the Act.
The Company hereby notifies ASX under paragraph 708A(5)(e) of the Act that:
(a) the Company issued the Shares without disclosure to investors under Part
6D.2 of the Act;
(b) as at 23 April 2008, the Company has complied with the provisions of
Chapter 2M of the Act as they apply to the Company, and section 674 of the
Act; and
(c) as at 23 April 2008 there is no information:
a. that has been excluded from a continuous disclosure notice in
accordance with the ASX Listing Rules; and
b. that investors and their professional advisers would reasonably
require for the purpose of making an informed assessment of:
i. the assets and liabilities, financial position and performance,
profits and losses and prospects of the Company; or
ii. the rights and liabilities attaching to the relevant Shares.
23 April 2008
AUTHORISED BY:
Shannon Coates
Company Secretary
For more information contact:
Simon Farrell, Managing Director
CZA +61 417 985 383
Olly Cairns / Romil Patel
Blue Oar Securities Plc +618 6430 1631 or +44 20 7448 4400
Jos Simson/ Leesa Peters
Conduit PR +44(0) 20 7429 6603
Petronella Gorrie
The Event Shop +27 82 827 8815
www.coalofafrica.com
About CoAL:
Coal of Africa Limited ("CoAL") is primarily focused on the acquisition,
exploration and development of thermal and metallurgical coal projects. The
Company`s key projects, along with its leading metals processing company NiMag
Group (Pty) Ltd are in South Africa. The Company was incorporated in Western
Australia and listed in 1980. Since 2005, the Company has also listed on both
the AIM and JSE markets, allowing further growth in the Company`s coal assets.
Date: 23/04/2008 09:37:13 Produced by the JSE SENS Department.
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