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Fulfilment of All Conditions Precedent to the Acquisition Of Uitkomst Colliery
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")
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR PART) IN, INTO
OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
ANNOUNCEMENT 26 June 2017
FULFILMENT OF ALL CONDITIONS PRECEDENT TO THE ACQUISITION OF
UITKOMST COLLIERY
Coal of Africa Limited ("CoAL" or the "Company") is pleased to announce that all conditions
precedent to the acquisition of 100% of the shares in and claims against Pan African
Resources Coal Holdings Proprietary Limited ("PAR Coal") (“the Transaction”) have now been
fulfilled. This follows Uitkomst Colliery Proprietary Limited having entered into a supply of coal
agreement on terms acceptable to CoAL.
As a result, the effective date of the implementation of the Transaction will be 30 June 2017,
when CoAL will take over ownership, control and management of PAR CoAL and the Uitkomst
Colliery.
““We look forward to incorporating the Uitkomst Colliery into CoAL, which we believe
represents a transformative opportunity to provide cash flow to support CoAL as the Company
continues to progress its flagship Makhado project” CoAL’s CEO David Brown commented.
Application will be made for 261,287,625 new ordinary shares to be admitted to trading on the
AIM market of the London Stock Exchange ("AIM") in respect of the shares to be issued to
Pan African Resources Plc.
Admission to trading on AIM is expected to become effective on or around 30 June 2017. The
new ordinary shares will rank pari passu with the Company's existing ordinary shares of nil
par value. Application for quotation of the new ordinary shares will also be made to the
Australian Securities Exchange and the Main Board of the JSE Limited.
Following admission of the new ordinary shares to be issued to Pan African Resources Plc
there will be 2,817,584,530 shares on issue. This figure may be used by shareholders in the
Company as the denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change in their interest in, the share capital of the
Company under the Corporations Act and the FCA's Disclosure Guidance and Transparency
Rules
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 Van Tonder 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
Investec Bank Limited is the nominated JSE Sponsor.
About CoAL:
CoAL is an AIM/ASX/JSE listed coal exploration and development 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).
Date: 26/06/2017 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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