| Thu 15 Dec 2011, 7:06 | | 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
(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
Further to the announcements of 3 November 2011 and 14 December 2011 regarding
the private placement to raise gross proceeds of approximately US$106,000,000
(equivalent of GBP66.3 million/South African Rand 845 million/A$102 million),
through the issue of 130,000,000 new ordinary shares ("Ordinary Shares") in Coal
of Africa Limited (the "Company") at an issue price of GBP0.51 (equivalent of
A$0.874) ("Placement"), the Company announces that it has today issued the
remaining 50,323,963 Ordinary Shares (the "Conditional Placing Shares")
following shareholder approval at a general meeting held on 14 December 2011.
Following the admission of the Conditional Placing Shares, the number of
Ordinary Shares in issue will be 662,284,573.
The Australian Corporations Act 2005 (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 the Company giving this notice, any on-sale of the
Conditional Placing Shares noted above will fall within the exemption in section
708A(5) of the Act.
The Company hereby notifies the Australian Stock Exchange ("ASX") under
paragraph 708A(5)(e) of the Act that:
(a) the Company issued the Conditional Placing Shares without disclosure to
investors under Part 6D.2 of the Act;
(b) as at 15 December 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; and
(c.) as at 15 December 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 Conditional Placing Shares.
Authorised by
Shannon Coates
Company Secretary
Bryanston
15 December 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: 15/12/2011 07:06:09 Produced by the JSE SENS Department.
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