| Thu 17 Jun 2010, 7:50 | | CZA - Coal of Africa Limited - Appendix 3b new issue announcement |
|
CZA
CZA
CZA - Coal of Africa Limited - Appendix 3b new issue announcement,
application for quotation of additional securities and agreement
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`)
APPENDIX 3B NEW ISSUE ANNOUNCEMENT, APPLICATION FOR QUOTATION OF ADDITIONAL
SECURITIES AND AGREEMENT
CoAL, yesterday, 16 June 2010, submitted to the Australian Securities
Exchange ("ASX") an Appendix 3B "New issue announcement, application for
quotation of additional securities and agreement" in respect of the issue of
50,000,000 fully paid ordinary shares pursuant to a placing conducted by
accelerated bookbuild.
Following the admission of the shares, the number of ordinary shares on issue
will be 530,514,663.
QUOTE
NAME OF ENTITY
Coal of Africa Limited
ABN
98 008 905 388
We (the entity) give ASX the following information
PART 1 - ALL ISSUES
1. Class of securities issued or to be issued
Shares
2. Number of securities issued or to be issued (if known) or maximum number
which may be issued
50,000,000
3. Principal terms of the securities (eg, if options, exercise price and
expiry date; if partly paid securities, the amount outstanding and due dates
for payment; if convertible securities, the conversion price and dates for
conversion)
Fully paid ordinary
4. Do the securities rank equally in all respects from the date of
allotment with an existing +class of quoted securities?
If the additional securities do not rank equally, please state:
- the date from which they do
- the extent to which they participate for the next dividend, (in the case
of a trust, distribution) or interest payment
- the extent to which they do not rank equally, other than in relation to
the next dividend, distribution or interest payment
Yes
5. Issue price or consideration
GBP1.10 each
6. Purpose of the issue:
(If issued as consideration for the acquisition of assets, clearly identify
those assets)
The Company intends to use the net proceeds of the placement to fund the
following:
- Makhado bulk sample - approximately US$7.5 million;
- Makhado Definitive Feasibility Study - approximately US$6.5 million;
- Potential acquisitions contiguous to CoAL existing assets or existing
inorganic growth opportunities - approximately US$15 million and US$20
million respectively;
- Repay the existing JPMorgan Chase Bank, N.A. working capital facility -
US$20 million; and
- General working capital
7. Dates of entering securities into uncertificated holdings or despatch of
certificates
22 June 2010
8. Number and class of all securities quoted on ASX (including the
securities in clause 2 if applicable)
Number Class
530,514,663 Fully paid ordinary shares
9. Number and class of all securities not quoted on ASX (including the
securities in clause 2 if applicable)
Number Class
9,074,998 Class A Options exercisable at $0.50 each
on or before 30 September 2011
250,000 Class B Options exercisable at $2.05 each
on or before 1 May 2012
7,000,000 Class D Options exercisable at $1.25 each
on or before 30 September 2012
1,000,000 Class G Options exercisable at $1.90 each
on or before 30 September 2012
600,000 Class H Options exercisable at $1.25 on
or before 1 May 2012
1,650,000 Class I Options exercisable at $3.25 on
or before 31 July 2010
5,000,000 Class J Options exercisable at $2.74 on
or before 30 November 2014
912,500 Class K Options exercisable at $1.90 on
or before 30 June 2014
10. Dividend policy (in the case of a trust, distribution policy) on the
increased capital (interests)
Not applicable
PART 2 - BONUS ISSUE OR PRO RATA ISSUE
Questions 11 to 33 - Not Applicable
PART 3 - QUOTATION OF SECURITIES
34. Type of securities (tick one)
a. Securities described in Part 1 (Yes)
b. All other securities (No)
Questions 35 to 42 - Not Applicable
QUOTATION AGREEMENT
1. Quotation of our additional securities is in ASX`s absolute discretion.
ASX may quote the securities on any conditions it decides.
2. We warrant the following to ASX.
- The issue of the +securities to be quoted complies with the law and is
not for an illegal purpose.
- There is no reason why those securities should not be granted quotation.
- An offer of the +securities for sale within 12 months after their issue
will not require disclosure under section 707(3) or section 1012C(6) of the
Corporations Act.
- Note: An entity may need to obtain appropriate warranties from
subscribers for the securities in order to be able to give this warranty
- Section 724 or section 1016E of the Corporations Act does not apply to
any applications received by us in relation to any securities to be quoted
and that no-one has any right to return any securities to be quoted under
sections 737, 738 or 1016F of the Corporations Act at the time that we
request that the +securities be quoted.
- If we are a trust, we warrant that no person has the right to return the
securities to be quoted under section 1019B of the Corporations Act at the
time that we request that the securities be quoted.
3. We will indemnify ASX to the fullest extent permitted by law in respect
of any claim, action or expense arising from or connected with any breach of
the warranties in this agreement.
4. We give ASX the information and documents required by this form. If any
information or document not available now, will give it to ASX before
quotation of the securities begins. We acknowledge that ASX is relying on the
information and documents. We warrant that they are (will be) true and
complete.
Signed: 16 June 2010
Company Secretary: Shannon Coates
UNQUOTE
Johannesburg
17 June 2010
JSE Sponsor
Macquarie First South Advisers (Pty) Ltd
Date: 17/06/2010 07:50:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
