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COAL OF AFRICA LIMITED - Issue of Employee Share Options

Release Date: 03/12/2013 16:00
Code(s): CZA     PDF:  
Wrap Text
Issue of Employee Share Options

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

3 December 2013



ISSUE OF EMPLOYEE SHARE OPTIONS



Coal of Africa Limited ('CoAL' or the 'Company') confirms it has today issued a total of 8,057,928 unlisted

share options pursuant and subject to the terms and conditions of the Coal of Africa Limited Employee

Share Option Plan approved at the annual general meeting held on 22 November 2013. The unlisted

options were issued for nil consideration.



3,932,928 unlisted options were issued to 38 employees of the Company, exercisable at ZAR1.75 (16.9

pence) on or before 30 June 2017. These options vest in two instalments, with two thirds vesting

immediately and one third vesting on 1 July 2014. These options were recommended by the Company’s

Remuneration Committee and approved by the Board.



4,125,000 unlisted options were issued to Mr Michael Meeser, the Chief Financial Officer and Executive

Director of the Company, as approved by the shareholders at the recent annual general meeting. 1,375,000

of these options will become exercisable on each of 1 June 2014, 1 June 2015 and 1 June 2016 at an

exercise price of ZAR2.0 (19.3 pence). These options expire on 1 June 2018.



An Appendix 3B to confirm the issue of the Options will follow.



AUTHORISED BY:



Tony Bevan

Company Secretary





For more information contact:

David Brown                                   Executive Chairman                                   Coal of Africa                                       +27 11 575 4363

Michael Meeser                                Chief Financial Officer                              Coal of Africa                                       +27 11 575 4363

Celeste Harris                                Investor Relations                                   Coal of Africa                                       +27 11 575 6857

Tony Bevan                                    Company Secretary                                    Endeavour Corporate Services                         +61 8 9316 9100



Company advisors:

Jos Simson/Emily Fenton                       Financial PR (United Kingdom)                        Tavistock                                            +44 20 7920 3150

Chris Sim/Jeremy Ellis                        Nominated Adviser                                    Investec Bank plc                                    +44 20 7597 5970

Charmane Russell/Jane Kamau                   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 /MbeuYashu, including CoAL’s Makhado Project (coking and thermal coal).









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 4363, Email: admin@coalofafrica.com

David H.Brown – Executive Chairman, Michael G. Meeser – Chief Financial Officer

Non-executive directors: Peter G. Cordin, Khomotso B. Mosehla , David J. K. Murray, Bernard R. Pryor, Rudolph H. Torlage


Date: 03/12/2013 04:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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