TIDMCZA

RNS Number : 5979H

Coal of Africa Limited

09 June 2017

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR PART) IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

ANNOUNCEMENT 9 JUNE 2017

COMPETITION COMMISSION APPROVES THE UITKOMST ACQUISITION

Coal of Africa Limited ("CoAL" or the "Company") is pleased to confirm that the South African Competition Commission has unconditionally approved CoAL's acquisition of 100% of the shares in and claims against Pan African Resources Coal Holdings Proprietary Limited ("PAR Coal") ("the Transaction") which was announced by CoAL on 5 April 2017.

The Transaction remains subject to certain conditions precedent including amongst others the approval of the Transaction by CoAL shareholders which is being sought at the Company's General Meeting to be held on 15 June 2017.

David Brown, Chief Executive Officer of CoAL, commented: "approval from the Competition Commission represents an important milestone in the process of securing completion of the Transaction. We continue to make positive progress and work towards satisfaction of the outstanding conditions as soon as possible and will provide an update on expected timing of completion following CoAL's upcoming General Meeting".

AUTHORISED BY:

David Brown

Chief Executive Officer

For more information contact:

 
                   Chief Executive                              +27 10 003 
 David Brown        Officer              Coal of Africa          8000 
                   Chief Financial                              +27 10 003 
 De Wet Schutte     Officer              Coal of Africa          8000 
 Celeste Van                                                    +27 10 003 
  Tonder           Investor Relations    Coal of Africa          8000 
                                         Endeavour Corporate    +61 08 9316 
 Tony Bevan        Company Secretary      Services               9100

Company advisors:

 
 Jos Simson/Emily       Financial PR                          +44 20 7920 
  Fenton                 (United Kingdom)    Tavistock         3150 
 Matthew Armitt/Ross    Nominated Adviser                     +44 20 7418 
  Allister               and Broker          Peel Hunt LLP     8900

Investec Bank Limited is the nominated JSE Sponsor.

About CoAL:

CoAL is an AIM/ASX/JSE listed coal exploration and development 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

END

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June 09, 2017 02:00 ET (06:00 GMT)

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