| Wed 17 Mar 2010, 7:05 | | CZA - Coal of Africa Limited - Australian Securities Exchange Waiver |
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CZA
CZA
CZA - Coal of Africa Limited - Australian Securities Exchange Waiver
Coal of Africa Limited
(previously, "GVM Metals Limited")
(Incorporated and registered in Australia)
(Registration number ABN 008 905 388)
JSE Share code: CZA
ASX Share code: CZA
ISIN AU000000CZA6
(`CoAL` or `the Company`)
Australian Securities Exchange Waiver
Further to its announcement dated 11 December 2009, CoAL is pleased to confirm
that it has received a waiver from the Australian Securities Exchange ("ASX") on
ASX Listing Rule 7.3.2 to the extent necessary to permit the notice of meeting
("Notice") seeking shareholder approval for the issue of up to 50,000,000 shares
pursuant to the agreement entered into with Firefly Investments 163
(Proprietary) Limited ("Firefly") to state that up to 50,000,000 shares
("Firefly Shares") will be issued more than 3 months after the date of the
shareholders meeting, on the following conditions:
1.1 The Firefly Shares are to be issued no later than 5 November 2014;
1.2 The Notice sets out terms of the agreement between the Company, Coal
Investments Limited and Firefly, for the issue of the Firefly Shares,
including the relevant conditions and their assessment;
1.3 For the periods in which the Firefly Shares are to be issued or remain to
be issued, the Company`s annual reports set out in reasonable detail the
Firefly Shares that have been issued in the relevant period and that may be
issued in the future; and
1.4 The Company releases the terms of the waiver to the market immediately.
A copy of the ASX waiver is annexed hereto. The Company`s Notice to approve the
issue of the Firefly Shares will be provided in due course.
AUTHORISED BY:
Shannon Coates
Company Secretary
For further information contact:
Simon Farrell - CoAL Managing Director Tel: +61 (0) 417 985 383
or +61 8 9322 6776
Evolution Securities Tel: +44 (0) 20 7071 4300
Simon Edwards / Chris Sim
Conduit PR Tel: +44 (0) 20 7429 6603
Jos Simson / Leesa Peters
Macquarie First South Advisers Tel: +27(11) 583 2000
Melanie de Nysschen
Johannesburg
17 March 2010
Sponsor
Macquarie First South Advisers (Pty) Limited
About CoAL:
Coal of Africa Limited ("CoAL") is an AIM/ASX/JSE listed coal mining and
development company operating primarily in South Africa. CoAL has 4 key
projects including the 113 million tonne (`mt`) Mooiplaats thermal coal mine,
the 656 mt Vele coking coal project, the 1.3 billion tonne Makhado coking coal
project ("Makhado Project") (including resources to be acquired under the Rio
Tinto farm swap arrangements) and the recently acquired Woestalleen Colliery and
associated mining operations producing in excess of 2mpta export quality thermal
coal.
The Mooiplaats coal mine commenced production in 2008 and is currently ramping
up to produce 2 mtpa. CoAL`s Vele and Makhado coking coal projects are expected
to start production in H1 2010 and Q4 2011 respectively, producing an initial 2
mtpa rising to a combined annual output of 10 mtpa of coking coal.
Date: 17/03/2010 07:05:11 Produced by the JSE SENS Department.
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