| Mon 17 Oct 2011, 14:24 | | CZA - Coal of Africa Limited - Issue of shares and secondary trading notice |
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CZA
CZA
CZA - Coal of Africa Limited - Issue of shares and secondary trading notice
Coal of Africa Limited
(previously "GVM Metals Limited")
(Incorporated and registered in Australia)
(Registration number ABN 008 905 388)
ISIN AU000000CZA6
JSE/ASX/AIM share code: CZA
("CoAL or the "Company")
ISSUE OF SHARES AND SECONDARY TRADING NOTICE
Coal of Africa Limited (`CoAL` or the `Company`) confirms it has resolved to
issue 144,912 ordinary shares at a deemed issue price of R7.2457 each pursuant
to an employment agreement with the Managing Director of the wholly owned NiMag
Group of companies ("Shares").
Application has been made for the 144,912 Shares to be admitted to trading on
the ASX, JSE and AIM market of the London Stock Exchange ("Admission").
Admission is expected to become effective on 18 October 2011. The Shares will
rank pari passu with the Company`s existing Ordinary Shares.
Following the admission of the Shares, the number of Ordinary Shares on issue
will be 532,284,573.
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 18 October 2011, the Company has complied with the provisions of
Chapter 2M of the Act (other than section 319 in relation to a financial
year ended in the calendar year 2004) as they apply to the Company, and
section 674 of the Act; and
(c) as at 18 October 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.
Authorised by:
Shannon Coates
Company Secretary
17 October 2011
Johannesburg
JSE Sponsor
Macquarie First South Capital (Pty) Ltd
For more information contact:
John Wallington
Chief Executive Officer
Coal of Africa
+27 11 575 7423
Wayne Koonin
Finance Director
Coal of Africa
+27 11 575 6797
Shannon Coates
Company Secretary
Coal of Africa
+61 893 226 776
Chris Sim
Nominated Adviser
Evolution Securities
+44 20 7071 4300
Jos Simson/Emily Fenton
Financial PR
Tavistock
+44 207 920 3150
Melanie de Nysschen/ Annerie Britz/ Yvette Labuschagne
JSE Sponsor
Macquarie
+27 11 583 2000
www.coalofafrica.com
About CoAL:
CoAL is an AIM/ASX/JSE listed coal exploration, development and mining company
operating in South Africa. CoAL`s key projects include the Vele Colliery (coking
and thermal coal), the Makhado Project (coking coal) and the Mooiplaats and
Woestalleen Collieries (both thermal coal).
The Mooiplaats Colliery commenced production in 2008 and is currently ramping up
to produce 2 Mtpa. The Woestalleen Colliery, acquired through the acquisition of
NuCoal Mining (Pty) Limited in January 2010, currently processes approximately
2.5Mtpa of saleable coal for domestic and export markets. The Woestalleen
Complex also incorporates three beneficiation plants with a total processing
capacity of 350,000 run of mine feed tonnes per month.
CoAL`s Vele Colliery is expected to start production in the first half of 2012.
During the initial phase, the operation is targeting 2.7 Mtpa ROM production to
produce 1.0Mtpa saleable coking coal.. The Makhado Project, CoAL`s flagship
project in the Soutpansberg coalfield, is well into the feasibility stage, with
a Definitive Feasibility Study nearing completion. An application for a New
Order Mining Right for the Makhado Project was submitted in January 2011.
In November 2010, CoAL agreed to acquire the Chapudi coal project and several
other coal exploration properties in the Soutpansberg coal basin in South Africa
from the previous owners, including Rio Tinto. Upon completion, the acquisition
of these projects will significantly extend the scale and scope of certain of
CoAL`s existing projects in the region and will more than double the resource of
the existing Makhado Project.
Date: 17/10/2011 14:24:02 Produced by the JSE SENS Department.
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