| Thu 17 Jun 2010, 7:49 | | CZA - Coal of Africa Limited - Results of placing |
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CZA
CZA
CZA - Coal of Africa Limited - Results of placing
Coal of Africa Limited
(previously, "GVM Metals Limited")
(Incorporated and registered in Australia)
(Registration number ABN 008 905 388)
JSE/ASX/AIM Share code: CZA
ISIN AU000000CZA6
("CoAL" or the "Company")
RESULTS OF PLACING
THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION,
RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, CANADA,
JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR
DISTRIBUTION WOULD BE UNLAWFUL
Further to the announcement earlier today, CoAL is pleased to announce that 50
million new ordinary shares in the Company (the "Placing Shares") have been
successfully placed by J.P. Morgan Securities Ltd., which conducts its UK
investment banking activities as J.P. Morgan Cazenove ("J.P. Morgan Cazenove"),
Macquarie First South Advisers (Proprietary) Limited ("Macquarie"), Evolution
Securities Limited ("Evolution"), and Mirabaud Securities LLP ("Mirabaud") as
Managers, and Renaissance Capital Limited ("Renaissance") as Institutional
Selling Agent, to institutional and other investors.
The placing price has been set at 110 pence per share (or 12.38 South African
Rand, or 1.88 Australian Dollar). The placing price is equivalent to a 0.2%
discount to the closing mid-market price on the AIM market of the London Stock
Exchange ("AIM") on 15 June 2010. Accordingly, the Placing will raise gross
proceeds of approximately GBP55 million (approximately South African Rand 619
million/ Australian Dollar 94 million). The Placing Shares represent
approximately 10.4% of CoAL`s issued share capital prior to the Placing.
The Placing Shares will be credited as fully paid and will rank pari passu in
all respects with the existing ordinary shares of CoAL including the right to
receive all dividends and other distributions declared, made or paid after the
date of issue.
The Company has applied for admission of the Placing Shares to trading on AIM
and the Main Board of JSE Limited ("JSE"), and application will be made to the
Australian Securities Exchange ("ASX"). It is expected that admission to trading
on AIM and the main board of the Johannesburg Stock Exchange will take place on
21 June 2010 and listing on the Australian Stock Exchange take place on 22 June
2010.
Johannesburg
17 June 2010
JSE Sponsor
Macquarie First South Advisers (Pty) Limited
Contacts
CoAL
Simon Farrell Tel: +61 (0) 417 985 383
Blair Sergeant Tel: +27 (0) 11 785 4518
J.P. Morgan Cazenove Tel: +44 (0) 20 7588 2828
Verne Grinstead
Neil Passmore
Macquarie Tel: +27 (0) 11 583 2000
Murray Stewart
Melanie de Nysschen
Evolution Tel: +44 (0) 20 7071 4300
Simon Edwards
Chris Sim
Renaissance
John Porter Tel:+44 (0) 20 7367-7777
Simon Matthews
Conduit PR Tel: +44 (0) 20 7429 6603
Jos Simson
Leesa Peters
This Announcement has been issued by and is the sole responsibility of the
Company. No representation or warranty, express or implied, is or will be made
as to, or in relation to, and no responsibility or liability is or will be
accepted by J.P. Morgan Cazenove, Macquarie, Evolution, Mirabaud or Renaissance
or by any of their respective affiliates or agents as to or in relation to, the
accuracy or completeness of this Announcement or any other written or oral
information made available to or publicly available to any interested party or
its advisers, and any liability therefore is expressly disclaimed.
J.P. Morgan Cazenove is acting as Global Co-ordinator and Sole Bookrunner,
Macquarie is acting as joint lead manager, Evolution and Mirabaud Securities LLP
are acting as co-lead managers in connection with the Placing. Renaissance is
also acting for the Company as Institutional Selling Agent. J.P. Morgan
Cazenove, Evolution, Mirabaud and Renaissance, which are authorised and
regulated by the Financial Services Authority and Macquarie which are authorised
and regulated by the Financial Services Board in South Africa, are acting for
the Company in connection with the Placing and no-one else and none of J.P.
Morgan Cazenove, Macquarie, Evolution, Mirabaud nor Renaissance will be
responsible to anyone other than the Company for providing the protections
afforded to the respective clients of J.P. Morgan Cazenove, Macquarie,
Evolution, Mirabaud and Renaissance nor for providing advice in relation to the
Placing or any other matter referred to herein.
The distribution of this Announcement and the Placing of the Placing Shares in
certain jurisdictions may be restricted by law. No action has been taken by the
Company, J.P. Morgan Cazenove, Macquarie, Evolution, Mirabaud or Renaissance
that would permit an offering of such shares or possession or distribution of
this Announcement or any other offering or publicity material relating to such
shares in any jurisdiction where action for that purpose is required. Persons
into whose possession this Announcement comes are required by the Company, J.P.
Morgan Cazenove, Macquarie, Evolution, Mirabaud and Renaissance to inform
themselves about, and to observe, such restrictions.
The information in this press release shall not constitute an offer to sell or
the solicitation of an offer to buy, nor shall there be any sale of, the
securities referred to herein in any jurisdiction in which such offer,
solicitation or sale would require preparation of further prospectuses or other
offer documentation, or be unlawful prior to registration, exemption from
registration or qualification under the securities laws of any such
jurisdiction.
No public offer of securities of the Company is being made in Australia, the
United Kingdom, the United States, the Republic of South Africa or elsewhere.
The information in this press release does not constitute or form a part of any
offer or solicitation to purchase or subscribe for securities in the United
States. The securities mentioned herein have not been, and will not be,
registered under the United States Securities Act of 1933 (the "Securities
Act"). The securities mentioned herein may not be offered or sold in the United
States except pursuant to an exemption from the registration requirements of the
Securities Act. There will be no public offer of securities in the United
States.
The information in this press release may not be forwarded or distributed to any
other person and may not be reproduced in any manner whatsoever. Any forwarding,
distribution, reproduction, or disclosure of this information in whole or in
part is unauthorised. Failure to comply with this directive may result in a
violation of the Securities Act or the applicable laws of other jurisdictions.
Date: 17/06/2010 07:49:01 Produced by the JSE SENS Department.
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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.
