| Tue 15 Nov 2011, 7:26 | | CZA - Coal of Africa Limited - Notice of General Meeting and proxy |
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CZA
CZA
CZA - Coal of Africa Limited - Notice of General Meeting and proxy
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")
NOTICE OF GENERAL MEETING AND PROXY
Further to its announcement of 3 November 2011, pursuant to which Coal of
Africa Limited (the "Company") announced a private placement to raise
gross proceeds of approximately US$106 million (equivalent of GBP66.3
million/ZAR845 million/A$102 million) through the placement of
130,000,000 new shares in the capital of the Company ("Shares") at an
issue price of GBP0.51 (equivalent of ZAR6.50/A$0.874) ("Placement"), the
Company has today despatched the attached Notice of General Meeting
("Notice") and Proxy Form to shareholders for a general meeting to be
convened in London on 14 December 2011.
Copies of the Notice and Proxy Form are also available for download from
the Company`s website hosted at www.coalofafrica.com.
The Notice contains resolutions seeking shareholder ratification of the
issue on 8 November 2011 of Tranche 1 of the Placement, comprising
79,676,037 Shares and shareholder approval to issue Tranche 2 of the
Placement, being the remaining 50,323,963 Shares ("Conditional Placing
Shares").
Subject to obtaining shareholder approval to issue the Conditional
Placing Shares, the Company will apply for admission of the Conditional
Placing Shares to trading or quotation and listing of the Conditional
Placing Shares on the AIM market of London Stock Exchange plc ("AIM") on
15 December 2011 and on the Main Board of JSE Limited ("JSE") on 20
December 2011. Application will also be made to the Australian
Securities Exchange for the admission of the Conditional Placing Shares.
Accordingly, the anticipated settlement date for the Conditional Placing
Shares on AIM is 15 December 2011.
Authorised by
Shannon Coates
Company Secretary
Bryanston
15 November 2011
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
Financial Director
Coal of Africa
+27 11 575 6797
Shannon Coates
Company Secretary
Coal of Africa
+61 893 226 776
Chris Sim/Jeremy Ellis
Nominated Adviser
Evolution Securities
+44 20 7071 4300
Jos Simson/Emily Fenton
Financial PR
Tavistock
+44 207 920 3150
Melanie de Nysschen/Annerie Britz/
JSE Sponsor
Macquarie
+27 11 583 2000
Yvette Labuschagne
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: 15/11/2011 07:26:01 Produced by the JSE SENS Department.
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