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COAL OF AFRICA LIMITED - Legal Action Instituted

Release Date: 28/09/2012 11:20
Code(s): CZA     PDF:  
Wrap Text
Legal Action Instituted

Coal of Africa
(Incorporated and registered in Australia)
(Registration number ABN 008 905 388)
ISIN AU000000CZA6
JSE/ASX/AIM share code: CZA
("CoAL or the "Company" or the "Group")

28 September 2012
                                     Legal action instituted by Coal of Africa

Coal of Africa Limited (“CoAL”) confirms that it commenced proceedings in the Federal Court of
Australia against former finance director Mr Blair Sergeant. The proceedings involve allegations of
breaches of duties on the part of Mr Sergeant during his time with the company as both a director
and employee.

As part of these proceedings CoAL has successfully obtained an order from the Federal Court of
Australia (“Federal Court”) to freeze A$6 million of Mr Sergeant’s assets.

These alleged breaches of duties relate to a specific corporate transaction in which Mr Sergeant was
involved in 2009 and 2010. As the proceedings are currently before the Federal Court, CoAL cannot
disclose further details of these allegations at this time whilst it awaits a formal response to the
Federal Court from Mr Sergeant.

Further updates will be made as appropriate.

Approved by
JOHN WALLINGTON
Chief Executive Officer

For more information contact:

John Wallington                     Chief Executive Officer          Coal of Africa                +27 11 575 4363
Wayne Koonin                        Financial Director               Coal of Africa                +27 11 575 4363
Shannon Coates                      Company Secretary                Coal of Africa                +61 89 322 6776
Sakhile Ndlovu                      Investor Relations               Coal of Africa                +27 11 575 6858
Jos Simson/Emily Fenton             Financial    PR     (United      Tavistock                     +44 20 7920 3150
                                    Kingdom)
Chris Sim/Neil Elliot               Nominated Adviser                Investec Bank plc             +44 20 7597 5970
Robert Smith                        JSE Sponsor                      Investec Bank Limited         +27 11 286 7000
Charmane           Russell/Jane     Financial PR (South Africa)      Russell & Associates          +27 11 880 3924
Kamau                                                                                              or
                                                                                                   +27 82 372 5816

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 Greater Soutpansberg Project, including CoAL’s Makhado
Project (coking coal) and the Mooiplaats and Woestalleen Collieries (both thermal coal).

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