13th Nov 2014 07:00
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 Placement and 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 | Chief Executive Officer | Coal of Africa | +27 10 003 8000 |
Michael Meeser | Chief Financial Officer | Coal of Africa | +27 10 003 8000 |
Celeste Harris | 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 |
Chris Sim/George Price/Jeremy Ellis | Nominated Adviser | Investec Bank plc | +44 20 7597 5970 |
Charmane Russell/Jane Kamau | 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