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CZA - Coal of Africa Limited - Notice of General Meeting and proxy

Release Date: 15/11/2011 07:26
Code(s): CZA
Wrap Text

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 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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