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Capital Raising Update
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
17 December 2014
Capital Raising Update
Further to the announcements of 26 August 2014 and 25 September 2014, in which Coal of Africa Limited
(“CoAL” or the “Company”) announced a capital raising of up to 695 million shares at an issue price of GBP
0.055 to be implemented in a two-stage process (the “Capital Raising”), the Company announces that it has
agreed with all of the participants in the Capital Raising to split the second stage, which was previously
conditional on receipt from TMM Holdings (Pty) Ltd (“TMM”) of confirmation that it had received sufficient
funding to fulfil its second stage funding commitment, into two parts.
The second stage of the capital raising will now comprise 300 million ordinary shares at the same issue price
of GBP 0.055 per share (raising an aggregate amount of £16.50 million in this stage) (“Stage 2”). It is
expected that the 300 million Stage 2 shares will be issued on 18 December 2014 and admitted to trading on
the ASX, AIM and the JSE on or around 23 December 2014.
The remaining 144 million ordinary shares will now be issued (at the same price of GBP 0.055 each) on or
around 29 April 2015 (“Stage 3”). CoAL will apply for the admission of these Stage 3 shares to trading on the
AIM, on the ASX and on the JSE. The Stage 2 and Stage 3 shares will be fully paid ordinary shares in the
capital of CoAL and, on issue, will rank equally in all respects with CoAL’s existing fully paid ordinary shares.
Details of the revised allocations for each of the investors participating in the Capital Raising are set out
below. The splitting of the second stage of the Capital Raising does not change the total amount being raised,
and does not have any impact on the use of proceeds of the Capital Raising as set out in the announcement
of 26 August 2014.
The shares to be issued in Stage 2 and Stage 3 of the Capital Raising will be split as follows:
Stage 2 Stage 3
Haohua Energy International (Hong Kong) Resource Co. Limited 80 000 000 37 000 000
M & G Investment Management Limited 60 000 000 28 000 000
Investec Asset Management (Proprietary) Limited 50 000 000 -
TMM Holdings (Proprietary) Limited 110 000 000 79 000 000
Total 300 000 000 144 000 000
Stage 3 of the Capital Raising is not subject to any conditions other than completion of Stage 2. As the
approval of CoAL’s shareholders for the issue of these shares, obtained at the meeting on 25 September
2014, will have expired prior to their issue, CoAL intends to issue the Stage 3 without shareholder approval as
permitted pursuant to Rule 7.1 of the ASX Listing Rules.
David Brown, Chief Executive Officer of CoAL commented: “The restructuring of the Fundraise allows CoAL to
conclude the equity raise and remove the conditions associated with TMM. The Company is appreciative for
the support of its shareholders and now looks forward to progressing the Vele and Makhado projects and
embarking on the value creation strategies previously outlined to shareholders.”
For more information contact:
David Brown Chief Executive Officer Coal of Africa +27 10 003 8000
Michael Meeser Chief Financial Officer Coal of Africa +27 10 003 8000
Celeste Harris Investor Relations Coal of Africa +27 10 003 8000
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/George Price/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).
AU: Coal of Africa Limited, Suite 8, 7 The Esplanade, Mount Pleasant, Perth WA 6153, Australia, Tel: +61 8 9316 9100, Fax: +61 8 9316 5475
ZA: South Block, Summercon Office Park, Cnr Rockery Lane and Sunset Avenue, Lonehill, 2191, Tel: +27 10 003 8000 Fax: +27 11 388 8333 Email: adminza@coalofafrica.com
Bernard R. Pryor – Chairman, David H. Brown – Chief Executive Officer , Michael G. Meeser – Chief Financial Officer
Non-executive directors: Peter G. Cordin, Andrew D. Mifflin, Khomotso B. Mosehla ,Thabo F. Mosololi, Rudolph H. Torlage
Date: 17/12/2014 09:01:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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