| Tue 8 Nov 2011, 12:32 | | CZA - Coal of Africa Limited - Issue of shares and secondary trading |
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CZA
CZA
CZA - Coal of Africa Limited - Issue of shares and secondary trading
notice
Coal of Africa Limited
(Incorporated and registered in Australia)
(Registration number ABN 008 905 388)
JSE Share code: CZA
ASX Share code: CZA
AIM Share code: CZA
ISIN AU000000CZA6
("CoAL" or the "Company")
ISSUE OF SHARES AND SECONDARY TRADING NOTICE
On 3 November 2011 Coal of Africa Limited ("Company") announced it is
undertaking a private placement to raise approximately US$106,000,000
(equivalent of GBP66.3 million/South African Rand 845 million/A$102
million) (less expenses) through the issue of 130,000,000 new Shares at
an issue price of GBP0.51 (equivalent of A$0.874) ("Placement").
The Placement is taking place in two tranches:
(a)tranche 1 - the issue of approximately 79,676,037 Shares ("Firm
Placing Shares"); and
(b)tranche 2 - subject to the receipt of shareholder approval, the issue
of approximately 50,323,963 Shares ("Conditional Placing Shares").
On 8 November 2011 the Firm Placing Shares were issued. Application was
made for the 79,676,037 Shares to be admitted to trading on the AIM
market of the London Stock Exchange ("Admission"). Admission became
effective on 8 November 2011. The Shares will rank pari passu with the
Company`s existing Ordinary Shares. The Conditional Placing Shares are
expected to be issued on or about 14 December 2011.
The Act restricts the on-sale of securities issued without disclosure,
unless the sale is exempt under section 708 or 708A. By the Company
giving this notice, sale of the Tranche 1Shares 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 Firm Placing Shares without disclosure to
investors under Part 6D.2 of the Act;
(b)as at 8 November 2011 the Company has complied with the provisions of
Chapter 2M of the Act as they apply to the Company, and section 674 of
the Act (other than section 319 in relation to a financial year ended in
the calendar year 2004); and
(c)as at 8 November 2011 there is no information:
(i) that has been excluded from a continuous disclosure notice in
accordance with the ASX Listing Rules; and
(ii) that investors and their professional advisers would reasonably
require for the purpose of making an informed assessment of:
A. the assets and liabilities, financial position and performance,
profits and losses and prospects of the Company; or
B. the rights and liabilities attaching to the Firm Placing Shares.
Authorised by
Shannon Coates
Company Secretary
Bryanston
8 November 2011
JSE Sponsor
Macquarie First South Capital (Pty) Ltd
For more information contact
John Wallington Chief Executive Coal of Africa +27 11 575 7423
Officer
Wayne Koonin Financial Coal Of Africa +27 11 575 6797
Director
Shannon Coates Company Coal of Africa +61893 226 776
Secretary
Chris Sim/ Romil Nominated Evolution +44 20 7071 4300
Patel Adviser Securities
Melanie de JSE Sponsor Macquarie First +27 11 583 2000
Nysschen/Annerie South Capital
Britz/Yvette
Labuschagne
Jos Simson/Emily Financial PR Tavistock +44 207 920 3150
Fenton
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: 08/11/2011 12:32:01 Produced by the JSE SENS Department.
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