23rd Apr 2008 07:00
Coal of Africa Limited23 April 2008 Coal of Africa Limited COMPLETION OF TRANCHE 1 PLACEMENT TO ARCELORMITTAL Coal of Africa Limited ("CoAL" or 'the Company'), the AIM/ASX/JSE listed coaldevelopment company operating in South Africa, advises that Tranche 1 of thePlacement to ArcelorMittal as announced on 21 April 2008 is now complete. Accordingly, a total of 46,365,000 new ordinary shares ("New Shares") have nowbeen allotted and issued, raising gross proceeds of £51,465,150. Whenaggregated with ArcelorMittal's existing shareholding in CoAL of 6,294,419shares, the placement of Tranche 1 will result in ArcelorMittal holding a totalof 52,659,419 shares, representing 14.9% of the issued capital of the Company. Following the admission of the New Shares, the number of shares on issue will be353,438,917. Tranche 2 of the agreed placement to ArcelorMittal of 13,635,000 shares remainssubject to approval by the Australian Foreign Investment Review Board and theCompany will advise of receipt of said approval and subsequent issue andallotment of the Tranche 2 upon completion. For more information contact:Simon Farrell, Managing Director CZA +61 417 985 383Olly Cairns / Romil Patel Blue Oar Securities Plc +618 6430 1631 or +44 20 7448 4400Jos Simson/ Leesa Peters Conduit PR +44(0) 20 7429 6603Petronella Gorrie The Event Shop +27 82 827 8815 www.coalofafrica.com About CoAL: Coal of Africa Limited ("CoAL") is primarily focused on the acquisition,exploration and development of thermal and metallurgical coal projects. TheCompany's key projects, along with its leading metals processing company NiMagGroup (Pty) Ltd are in South Africa. The Company was incorporated in WesternAustralia and listed in 1980. Since 2005, the Company has also listed on boththe AIM and JSE markets, allowing further growth in the Company's coal assets. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
MCM.L