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Update: Recommended Offer for Universal Coal Plc
Coal of Africa Limited
(Incorporated and registered in Australia)
Registration number ABN 008 905 388
ISIN AU000000CZA6
JSE/ASX/AIM share code: CZA
(‘CoAL or the ‘Company’)
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UPDATE: RECOMMENDED OFFER FOR UNIVERSAL COAL PLC
_________________________________________________________________________________
Coal of Africa Limited (ASX, AIM and JSE: CZA) (“CoAL”) and Universal Coal Plc (ASX: UNV)
(“Universal”) provide the following update on CoAL’s recommended offer for the entire issued and to be
issued share capital of Universal (the “Offer”).
Unless otherwise defined in this announcement, capitalised terms used in this announcement have the
meaning given to them in the offer document published by CoAL on 21 December 2015 (the “Offer
Document”).
Co-Operation Agreement
It was announced on 17 June 2016 that CoAL had extended the Offer Period of the Offer, such that the
Closing Date is 15 July 2016. On 7 June 2016 the parties announced that pursuant to a Deed of
Variation, CoAL and Universal had agreed to amend the terms of the Co-operation Agreement entered
into in connection with the Offer such that the date by which the Effective Date must have occurred be
extended until 24 June 2016. While the Co-Operation Agreement and the mutual obligations contained
therein have therefore expired, the Offer remains open for acceptance until 15 July 2016.
Board and Shareholder Support
The Universal Independent Directors continue to recommend that Universal Shareholders accept the
Offer, as they have done so in respect of their own Universal Shares, subject to statutory and fiduciary
exceptions that relate to the discharge of their duties as directors. Universal’s two largest shareholders,
Coal Development Holdings B.V., and IchorCoal NV have also accepted the Offer.
Status of Acceptances
As at the date of this Notice, CoAL has received acceptances of the Offer from Universal Shareholders
(including Universal CDI Holders) representing 479,112,711 Universal Shares, equating to
approximately 94.46 % of the total number of Universal Shares on issue. This includes consideration
elections for the Loan Note Alternative from Universal Shareholders (including Universal CDI Holders)
representing 255,314,984 Universal Shares equating to approximately 50.39%% of the total number of
Universal Shares in issue.
Enquiries
CoAL Telephone: +27 (0)10 003 8000
David Brown, De Wet Schutte and Celeste Riekert
Qinisele Resources (Proprietary) Limited (Financial Adviser Telephone: +27 (0)11 883 6358
to CoAL)
Robert Philpot and Dennis Tucker
Peel Hunt LLP (Nominated Adviser and Broker to CoAL) Telephone: + 44 (0)20 7418 8900
Matthew Armitt and Ross Allister
Investec Bank Limited (JSE Sponsor for CoAL) Telephone: +27 (0)11 286 7000
Robert Smith and Tanya Cesare
Tavistock (United Kingdom PR Adviser to CoAL) Telephone: +44 20 7920 3150
Jos Simson and Emily Fenton
Universal Telephone: +27 12 460 0805
Tony Weber and Daryl Edwards
Tamesis Partners LLP Telephone: +44 (0) 207 389 5016
(Financial Adviser to Universal)
Richard Greenfield
APP Securities Pty Limited (Financial Adviser to Universal) Telephone: +61 2 9226 0036
Nick Dacres-Mannings
FCR (PR Adviser to Universal) Telephone: +61 2 8264 1003
Robert Williams
28 June 2016
Date: 28/06/2016 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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