16th Mar 2017 13:04
ANNOUNCEMENT 16 March 2017
FINANCIAL SERVICES BOARD FINDING
Coal of Africa Limited ("CoAL" or "the Company") notes the judgement and fine lodged by the Financial Services Board ("FSB") against Mr Michiel Jakobus Brönn, Chief Operating Officer of the Company for the contravention of the Section 78 (1) (a) of the Financial Markets Act, 19 of 2012.
The Company has throughout ensured that all internal policies and governance processes were in place. The Company is in the process of reviewing the FSB findings, the details of which have been made public on 15 March 2017. The Company has placed Mr Brönn on suspension whilst the Company completes its internal review process.
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).
Related Shares:
MCM.L