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COAL OF AFRICA LIMITED - Results of General Meeting

Release Date: 25/01/2013 13:00
Code(s): CZA     PDF:  
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Results of General Meeting

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" or the "Group")

ANNOUNCEMENT                                                                                                                                                         25 January 2013

RESULTS OF GENERAL MEETING

Shareholders vote in favour of US$100 million investment by HEI

Coal of Africa Limited (the “Company” or “CoAL”) is pleased to announce that at the General Meeting of Shareholders
held earlier today to approve the US$100 million investment in the Company by Haohua Energy International (Hong
Kong) Resource Co. Limited (“HEI”), a wholly owned subsidiary of the Beijing Haohua Energy Resource Co. Limited
(“BHE”), all resolutions were passed. Accordingly, the Company will proceed with the issue of the Conditional
Placement Shares of US$80 million at 25 pence.

David Brown, Chairman of CoAL, said: “This investment by HEI will form the basis for a strategic partnership between
CoAL and BHE that will facilitate the development of CoAL’s assets. This is a significant step in stabilising the financial
structure of the Company and enables management to unlock the value in the coking assets in the Limpopo Province
of South Africa. Furthermore, the exchange of financial, technical and operational expertise that can be realised from
this partnership is significant and company-transforming.”

The results of the General Meeting are set out in detail below.

Results of General Meeting

In accordance with Listing Rule 3.13.2 and Section 251AA(2) of the Corporations Act, the Company advises the
following outcome of the resolutions put to the General Meeting of shareholders held earlier today:

Resolution 1: Approval of issue of Shares – Initial Placement

The resolution was withdrawn as the Initial Placement Shares have been issued prior to the meeting.

Resolution 2: Ratification of issue of Shares – Initial Placement

The resolution was carried unanimously on a show of hands, and the total number of proxy votes in respect of validly
appointed proxies was as follows:

                                                    Number                                                % of Vote                               % of Issued Capital
 For:                                             376,895,033                                               99.88                                        44.32
 Against:                                           158,116                                                 0.04                                          0.02
 Abstain:                                           173,079                                                 0.05                                          0.02
 Discretionary:                                     126,027                                                 0.03                                          0.01
 TOTAL:                                           377,352,285                                              100.00                                        44.37




Suite 8,7 The Esplanade, Mt Pleasant, Perth WA 6153, Australia, Tel: +61 8 9316 9100, Fax: +61 8 9315 5475, Email: perth@coalofafrica.com ACN 008 905388
ZA: 2nd Floor, Gabba Building, The Campus, 57 Sloane Street, Bryanston, Johannesburg, South Africa 2021, Tel: +27 11 575 4363, Fax: +27 11 576 7484, Email: adminza@coalofafrica.co.za
UK: 5th Floor, 33 St. James’s Street, London, SW1A 1HD, United Kingdom, Tel: +44 (0) 20 7839 8840, Fax: +44 (0) 20 7004 0959


David H. Brown - Chairman, John N. Wallington - Chief executive officer, Professor N. A. Nevhutanda - Corporate affairs director
Non-executive directors: Peter G. Cordin, Khomotso B. Mosehla , Dave J. K. Murray, Bernard R. Pryor, Rudolph H. Torlage


Resolution 3: Proposed issue of Shares – Conditional Placement

The resolution was carried unanimously on a show of hands, and the total number of proxy votes in respect of validly
appointed proxies was as follows:

                                                   Number                              % of Vote             % of Issued Capital
 For:                                     376,897,033                              99.88                           44.32
 Against:                                   156,116                                0.04                             0.02
 Abstain:                                   173,079                                0.05                             0.02
 Discretionary:                             126,057                                0.03                             0.01
 TOTAL:                                   377,352,285                               100                            44.37




For more information contact:
David Brown                             Chairman                             Coal of Africa                      +27 11 575 4363
John Wallington                         Chief Executive Officer              Coal of Africa                      +27 11 575 4363
Sakhile Ndlovu                          Investor Relations                   Coal of Africa                      +27 11 575 6858
Tony Bevan                              Company Secretary                    Endeavour Corporate Services        +61 08 9316 9100

Company advisors:
Jos Simson/Emily Fenton                 Financial PR (United Kingdom)        Tavistock                           +44 20 7920 3150
Chris Sim/Neil Elliot                   Nominated Adviser                    Investec Bank plc                   +44 20 7597 5970
Charmane Russell/James Duncan           Financial PR (South Africa)          Russell & Associates                +27 11 880 3924 or
                                                                                                                 +27 82 372 5816
Investec Bank Limited is the nominated JSE Sponsor

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). Vele Colliery commenced extraction of ROM material in December 2011 and had produced 254 760 m³ of ROM tonnes of thermal coal by the end
of first quarter FY 2013.




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