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COAL OF AFRICA LIMITED - Successful Completion of Equity Raise

Release Date: 02/06/2015 16:54
Code(s): CZA     PDF:  
Wrap Text
Successful Completion of Equity Raise

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                                                                                 2 June 2015

                                   Successful completion of Equity Raise


Coal of Africa Limited, the coal exploration and project development company operating in South Africa, and
traded on the ASX, AIM and the JSE, is pleased to announce the successful completion of Stage 3 of the
share placement, announced on 26 August 2014. The completion of Stage 3 concludes the private placement
which raised a total of £38.225 million (US$59.102 million) (“Placement”) in three tranches.

Stage 3 of the Placement resulted in the issue of 144 million ordinary shares at 5.5 pence per share each
(“Stage 3 Placing Shares”), raising GBP 7.92 million (US$12.39 million).

CoAL will apply for the admission of the Stage 3 Placing Shares to trading on AIM, the ASX and the JSE.
Admission is expected to occur on or around 3 June 2015. The Stage 3 Placement Shares will be fully paid
ordinary shares in the capital of CoAL and will rank equally in all respects with the existing fully paid ordinary
shares on issue. Following admission there will be 1,743,368,613 shares in issue.
In addition TMM (Pty) Ltd have been granted 40 million options, with an exercise price of ZAR 0.3 per share
and are exercisable for 12 months from 1 June 2015.



David Brown, Chief Executive Officer of CoAL, commented:

“This concludes the Placement and puts CoAL in a positive position particularly in conjunction with the recent
award of the Makhado New Order Mining Right and the deferred consideration agreement with Rio Tinto."




For more information contact:
David Brown                       Chief Executive 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 08 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 ,
Non-executive directors: Peter G. Cordin, Khomotso B. Mosehla , David J. K. Murray, Rudolph H. Torlage




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