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ANNOUNCEMENT 13 November 2014
Stage 1 Equity Raise Cash Flow Received
Coal of Africa Limited ("CoAL" or "Company"), the coal exploration and project development company operating in South Africa and traded on the ASX, AIM and JSE is pleased to announce the successful completion of the Stage 1 Share Placementand the receipt of funds on the 11th of November 2014. The Stage 1 Placement resulted in the issue of 251 million additional shares split according to the various subscription agreements on the AIM and JSE to the value of GBP 13,805 million (US$ 21,8 million). For more information regarding the announced equity raise please refer to the announcement made on the 26th of August 2014.
David Brown commented:
"The receipt of funds from the Stage 1 placement is most welcome and will enable the Company to continue on our value creation strategy"
AUTHORISED BY:
David Brown
For more information contact:
David Brown
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Chief Executive Officer
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Coal of Africa
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+27 10 003 8000
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Michael Meeser
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Chief Financial Officer
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Coal of Africa
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+27 10 003 8000
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Celeste Harris
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Investor Relations
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Coal of Africa
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+27 10 003 8000
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Tony Bevan
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Company Secretary
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Endeavour Corporate Services
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+61 08 9316 9100
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Company advisors:
Jos Simson/Emily Fenton
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Financial PR (United Kingdom)
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Tavistock
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+44 20 7920 3150
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Chris Sim/George Price/Jeremy Ellis
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Nominated Adviser
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Investec Bank plc
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+44 20 7597 5970
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Charmane Russell/Jane Kamau
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Financial PR (South Africa)
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Russell & Associates
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+27 11 880 3924 or
+27 82 372 5816
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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).
This information is provided by RNS
The company news service from the London Stock Exchange
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Coal Of Africa Ltd.
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CODE : CZA.AX |
ISIN : AU000000CZA6 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Coal Of Africa is a coal development stage company based in Australia. Coal Of Africa holds various exploration projects in South Africa. Its main exploration properties are HOLFONTEIN PROJECT, MAKHADO and MOOIPLAATS in South Africa. Coal Of Africa is listed in Australia, in Germany and in United Kingdom. Its market capitalisation is AU$ 1.6 billions as of today (US$ 1.2 billions, € 1.0 billions). Its stock quote reached its highest recent level on July 23, 2010 at AU$ 1.98, and its lowest recent point on December 26, 2014 at AU$ 0.03. Coal Of Africa has 2 216 050 176 shares outstanding. |