COAL OF AFRICA LIMITED - Capital Raising Update

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                                                                         30 April 2015

                                          Capital Raising Update

Further to the announcements of 26 August 2014, 25 September 2014 and 17 December 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 (the “Capital Raising”) and that the second stage of the Capital Raising had been
split into two parts, the Company can now confirm that Stage 3 will be implemented no later than 29 May
2015.

Stage 3 of the Capital Raising will comprise of an additional 144 million shares at the same issue price as
Stages 1 and 2 of the Capital Raising, being GBP 0.055 per share, and will raise gross proceeds of £7.92
million. The 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. Even though completion of Stage 3 of
the Capital Raising is later than originally envisaged, it will not affect the financial position of the Company and
on completion, it will conclude the Capital Raising which will have raised gross proceeds of £38.225 million.

As the approval of CoAL’s shareholders for the issue of the Stage 3 shares, obtained at the meeting on 25
September 2014, will have expired prior to their issue, CoAL intends to issue the Stage 3 shares without
shareholder approval as permitted pursuant to Rule 7.1 of the ASX Listing Rules.

Details of the participants and subscriptions in the Capital Raising are set out below.

                                                                      Stage 1          Stage 2            Stage 3
Haohua Energy International (Hong Kong) Resource Co.               98 000 000       80 000 000         37 000 000
Limited
M & G Investment Management Limited                                97 000 000       60 000 000         28 000 000
Investec Asset Management (Proprietary) Limited                    30 000 000       50 000 000                  -
TMM Holdings (Proprietary) Limited                                 26 000 000      110 000 000         79 000 000
Total                                                             251 000 000      300 000 000        144 000 000


David Brown, Chief Executive Officer of CoAL commented:
“The successful completion of Stage 3 of the Capital Raising will conclude the communicated equity fundraise
and allow the Company sufficient funds to focus on the development of its projects. Our shareholders
continue to demonstrate their continued commitment to our strategy.”




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: 30/04/2015 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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