13th Nov 2014 09:07
LONDON (Alliance News) - Coal of Africa Ltd shares rose in early trade on Thursday after the company said it has completed the first stage of its share placement and received the funds from the issue.
The company issued 251 million shares on AIM in London and on the Johannesburg Stock Exchange with a total value of GBP13.8 million.
"The receipt of funds from the Stage 1 placement is most welcome and will enable the company to continue on our value creation strategy," said Coal of Africa Chief Executive Officer David Brown.
Shares in the company were among the best performers in the AIM All-Share in early trade, up 12% to 3.25 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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