| Thu 5 Jun 2008, 9:00 | | CZA - Coal of Africa Limited - ArcelorMittal receives FIRB approval |
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CZA
CZA
CZA - Coal of Africa Limited - ArcelorMittal receives FIRB approval
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`)
ARCELORMITTAL RECEIVES FIRB APPROVAL
Coal of Africa Limited (`CoAL` or `the Company`), the AIM/ASX/JSE listed coal
development company operating in South Africa, is pleased to announce that
ArcelorMittal ("Mittal") has received approval from Australia`s Foreign
Investment Review Board ("FIRB") to increase its stake beyond 15%.
As a result, the Company will now complete Tranche 2 of the agreed placement to
Mittal as announced on 21 April 2008, of 13,635,000 shares @ GBP1.11 per share
raising an additional GBP15.1 million.
Following the issue of Tranche 2, Mittal will hold approximately 17.8% of the
Company`s issued capital.
Yours sincerely
SIMON J FARRELL
Managing Director
5 June 2008
For more information contact:
Simon Farrell
Managing Director
CZA +61 417 985 383 or +61 8 9322 6776
Petronella Gorrie
The Event Shop +27 82 827 8815
Jos Simson/ Leesa Peters
Conduit PR +44(0) 20 7429 6603
Olly Cairns / Romil Patel
Blue Oar Securities Plc +61 8 6430 1631 +44(0) 20 7448 4400
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.
About ArcelorMittal
ArcelorMittal is the world`s largest and most global steel company, with 310,000
employees in more than 60 countries. The company brings together the world`s
number one and number two steel companies, Arcelor and Mittal Steel.
ArcelorMittal is the leader in all major global markets, including automotive,
construction, household appliances and packaging, with leading R&D and
technology, as well as sizeable captive supplies of raw materials and
outstanding distribution networks. An industrial presence in 28 European, Asian,
African and American countries exposes the company to all the key steel markets,
from emerging to mature, positions it will be looking to develop in the high-
growth Chinese and Indian markets.
ArcelorMittal key financials for 2007 show revenues of USD 105.2 billion, with a
crude steel production of 116 million tonnes, representing around 10 per cent of
world steel output. ArcelorMittal is listed on the stock exchanges of New York
(MT), Amsterdam (MT), Paris (MTP), Brussels (MTBL), Luxembourg (MT) and on the
Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
(Registration number 1970/003711/07)
Date: 05/06/2008 09:00:01 Produced by the JSE SENS Department.
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