Wrap Text
Issue of warrants to Industrial Development Corporation of South Africa
Coal of Africa Limited
(Incorporated and registered in Australia)
Registration number ABN 008 905 388
ISIN AU000000CZA6
JSE/ASX/AIM share code: CZA
ANNOUNCEMENT 30 October 2017
ISSUE OF WARRANTS TO INDUSTRIAL DEVELOPMENT CORPORATION OF SOUTH AFRICA
Coal of Africa Limited (“CoAL” or the “Company”) confirms it has today issued a total of 48,175,033 unlisted
share options or warrants to the Industrial Development Corporation of South Africa Limited (“IDC”) pursuant
to the terms of a Loan Agreement between the Company, its subsidiary Baobab Mining and Exploration
Proprietary Limited and the IDC, signed in April 2017 (the “Loan Agreement”).
The major terms of the Loan Agreement were announced at the time of entering into the facility under which
the IDC advanced funding in two equal tranches totalling R240 million (US$16.9 million). The first tranche of
the loan funding of R120 million (US$8.5 million) was drawn down by the Company in May 2017 and the
warrants being issued for these funds equate to 2.5% of the entire issued share capital of CoAL as at 5
December 2016. The warrants vest immediately and expire and are exercisable on or before 16 June 2022 at
R0.60 each.
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
Stephen Rowse Business Executive Coal of Africa +27 10 003 8000
Tony Bevan Company Secretary Endeavour Corporate Services +61 08 9316 9100
Company advisors:
Ross Allister/ Richard Crichton Nominated Adviser and Broker Peel Hunt LLP +44 20 7418 8900
Jos Simson/ Barney Hayward/ Financial PR (United Kingdom) Tavistock +44 20 7920 3150
Annabel de Morgan
Charmane Russell/Olwen Auret Financial PR (South Africa) R&A Strategic Communications +27 11 880 3924 or
+27 82 372 5816
Investec Bank Limited is the nominated JSE Sponsor
About 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, Shangren Ding
CoAL is an AIM/ASX/JSE listed coal exploration, development and mining company operating in South Africa. CoAL’s key projects
include the Uitkomst Colliery, Makhado Project (coking and thermal coal), Vele Colliery (coking and thermal coal) and the Greater
Soutpansberg Projects (MbeuYashu).
This announcement is inside information for the purposes of article 7 of EU Regulation 596/2014.
Forward-Looking Statements
This Announcement, including information included or incorporated by reference in this Announcement, may contain "forward-looking
statements" concerning CoAL that are subject to risks and uncertainties. Generally, the words "will", "may", "should", "continue",
"believes", "expects", "intends", "anticipates" or similar expressions identify forward-looking statements. These forward-looking
statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking
statements. Many of these risks and uncertainties relate to factors that are beyond CoAL’s ability to control or estimate precisely, such as
future market conditions, changes in regulatory environment and the behaviour of other market participants. CoAL cannot give any
assurance that such forward-looking statements will prove to have been correct. The reader is cautioned not to place undue reliance on
these forward looking statements. CoAL and MCH assume no obligation and do not undertake any obligation to update or revise publicly
any of the forward-looking statements set out herein, whether as a result of new information, future events or otherwise, except to the
extent legally required.
Statements of intention
Statements of intention are statements of current intentions only, which may change as new information becomes available or
circumstances change.
Date: 30/10/2017 11:35:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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