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COAL OF AFRICA LIMITED - Grant of performance rights and options

Release Date: 01/12/2015 13:00
Code(s): CZA     PDF:  
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Grant of performance rights and 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
                                                                               1 December 2015




                          GRANT OF PERFORMANCE RIGHTS AND OPTIONS




Coal of Africa Limited ("CoAL" or the "Company") confirms the following awards to directors following the
shareholder approval received at the Annual General Meeting of Shareholders (“AGM”) on 27 November
2015.

Following the approval of shareholders David Brown, Chief Executive Officer and De Wet Schutte, Chief
Financial Officer, will be granted a total of 9,714,021 Performance Rights and 5,449,944 Performance Rights
respectively under the Company’s Performance Rights Plan. The total Performance Rights issued have been
determined by dividing ZAR4,812,500 and ZAR2,700,000 (which is 83% and 75% of Mr Brown and Mr
Schutte’s fixed remuneration respectively) by the volume weighted average price of the Shares of the
Company over the 5 trading days prior to the date of grant of the Performance Rights. The Performance
Rights are granted as conditional awards over ordinary shares of no par value for no consideration. The
awards will ordinarily vest three years after the grant date subject to the vesting conditions.

Additionally, following the approval of shareholders, Mr Bernard Pryor, Mr Peter Cordin, Mr Khomotso
Mosehla, Mr Andrew Mifflin and Mr Thabo Mosololi, all Independent Non-Executive Directors of the Company
have been issued 1,000,000 options exercisable at GBP 0.055 each at nil consideration. The options will
expire three years after grant date.

Current Shares and Options Held by Directors:
Mr Brown currently holds 825,000 ordinary shares in the Company which represents 0.05% of the Company’s
issued share capital as well as 10,575,000 unlisted options issued to him following the 2014 AGM pursuant to
the terms and conditions of the Company’s Employee Share Option Plan. 3,525,000 of these options are
exercisable or will become exercisable on each of 1 February 2015, 1 February 2016 and 1 February 2017 at
an exercise price of ZAR1.2, ZAR1.32 and ZAR1.45 respectively. All of the options expire on 1 February
2019.
Mr Brown also held 2,500,000 unlisted options that expired on 30 November 2015.
Mr Schutte does not currently hold any shares or options in the Company.
Mr Pryor currently also holds 150,000 ordinary shares in the company which represent 0.01% of the
Company’s total issued shares. Mr Pryor held 1,000,000 unlisted options that expired on 30 November 2015.
Mr Cordin currently also has an indirect interest in 1,371,059 ordinary shares in the company which represent
0.07% of the Company’s total issued shares.
Mr Mosololi current also holds 10,000 shares in the company which represent 0.001% of the Company’s total
issued shares.Mr Mosehla and Mr Mifflin do not currently hold any other shares or options in the Company.




AUTHORISED BY:

Tony Bevan

Company Secretary



For more information contact:
David Brown                                                    Chief Executive Officer                              Coal of Africa                  +27 10 003 8000
De Wet Schutte                                                 Chief Financial Officer                              Coal of Africa                  +27 10 003 8000
Celeste Riekert                                                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
Matthew Armitt/Ross Allister                                   Nominated Adviser and Broker                         Peel Hunt LLP                  +44 20 7418 8900

Charmane Russell/Olwen Auret                                   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, De Wet O Schutte
Non-executive directors: Peter G. Cordin, Andrew D Mifflin, Khomotso B. Mosehla ,Thabo F Mosololi, Rudolph H. Torlage

Date: 01/12/2015 01:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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