Coal of Africa Limited Despatch of Annual Report and Notice of AGM (3582U)
23 Outubro 2017 - 11:01AM
UK Regulatory
TIDMCZA
RNS Number : 3582U
Coal of Africa Limited
23 October 2017
ANNOUNCEMENT 23 October 2017
Despatch of Annual Report and Notice of Annual General
Meeting
Coal of Africa Limited ("CoAL" or the "Company"), the coal
exploration, development and mining company operating in South
Africa and traded on the ASX, AIM and JSE, announces that the
Integrated Report (Annual Report) for the financial year ended 30
June 2017, Notice of the Annual General Meeting and accompanying
proxy for the meeting to be held on 24 November 2017 have today
been posted to shareholders and are available on the Company's
website www.coalofafrica.com.
As previously announced, CoAL has undertaken an extensive
turnaround strategy resulting in the reduction of overhead costs,
settlement of legacy debts and restructuring of the Company's
balance sheet, evidenced with the disposal of the Mooiplaats
thermal coal colliery and the acquisition of the cash generative
Uitkomst metallurgical and thermal coal colliery. An assessment of
project parameters resulted in the recently announced Makhado
'Lite' hard coking coal project, facilitating a shorter
construction period and reduced capital requirements, allowing the
Company to take advantage of higher metallurgical and thermal coal
prices.
The Company's significant resources include extensive
metallurgical coal assets presenting an opportunity to re-brand and
market CoAL to the wider investment community. As a result of the
momentous progress made during the past two years, the CoAL Board
believes that this is an opportune time to:
-- change the Company's name from "Coal of Africa Limited" to
"MC Mining Limited" (this requires a special resolution from
shareholders); and
-- consolidate CoAL's issued share capital through the
conversion of every 20 (twenty) shares into 1 (one) share.
The Company notes that it is likely that its securities will be
suspended from trading on AIM while the CoAL shares will trade on a
deferred settlement basis on ASX and JSE, as set out in the
indicative timetable detailing key events post the Annual General
Meeting:
Event Date
------------------------------------------------------------------------------------------- -----------------
Annual General Meeting 24 November 2017
------------------------------------------------------------------------------------------- -----------------
Notification to ASX, AIM and JSE that Consolidation has been approved 24 November 2017
------------------------------------------------------------------------------------------- -----------------
Last day for trading in pre-consolidated securities 27 November 2017
------------------------------------------------------------------------------------------- -----------------
Trading in the consolidated securities on a deferred settlement basis commences and likely 28 November 2017
commencement of AIM suspension
------------------------------------------------------------------------------------------- -----------------
Last day to register transfers on a pre-consolidation basis (Record Date) 29 November 2017
------------------------------------------------------------------------------------------- -----------------
Registration of securities on a post-consolidation basis 30 November 2017
------------------------------------------------------------------------------------------- -----------------
Dispatch of new holding statements and deferred settlement trading ends 6 December 2017
------------------------------------------------------------------------------------------- -----------------
Normal trading commences on ASX, AIM and JSE 7 December 2017
------------------------------------------------------------------------------------------- -----------------
Further details of the proposed resolutions are set out in the
enclosed notice of annual general meeting and explanatory
statement. The board recommends that shareholders support all of
the resolutions.
The Company's Annual General Meeting will be held on:
24 November 2017 at 10 a.m. (London time)
Tavistock Communications
1 Cornhill
London
EC3V 3ND
AUTHORISED BY:
Tony Bevan
Company Secretary
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
+27 10 003
Stephen Rowse Business Executive Coal of Africa 8000
Endeavour Corporate +61 08 9316
Tony Bevan Company Secretary Services 9100
Qinisele Resources (Proprietary) Limited (Corporate Adviser to
CoAL)
Robert Philpot and Dennis Tucker (Telephone: +27 (0)11 883
6358)
Company advisors:
Ross Allister Nominated Adviser Peel Hunt +44 20
/ Richard Crichton and Broker LLP 7418 8900
Jos Simson/Emily
Fenton/ Barney Financial PR +44 20
Hayward (United Kingdom) Tavistock 7920 3150
Charmane Russell/Olwen Financial PR R&A Strategic +27 11
Auret (South Africa) Communications 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 Uitkomst Colliery, Makhado Project (coking and thermal
coal), Vele Colliery (coking and thermal coal) and the Greater
Soutpansberg Project (MbeuYashu).
This announcement is inside information for the purposes of
article 7 of EU Regulation 596/2014.
Forward-Looking Statements
This Announcement, including information included or
incorporated by reference in this Announcement, may contain
"forward-looking statements" concerning CoAL and/or MCH that are
subject to risks and uncertainties. Generally, the words "will",
"may", "should", "continue", "believes", "expects", "intends",
"anticipates" or similar expressions identify forward-looking
statements. These forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially
from those expressed in the forward-looking statements. Many of
these risks and uncertainties relate to factors that are beyond
CoAL's ability to control or estimate precisely, such as future
market conditions, changes in regulatory environment and the
behaviour of other market participants. CoAL cannot give any
assurance that such forward-looking statements will prove to have
been correct. The reader is cautioned not to place undue reliance
on these forward looking statements. CoAL and MCH assume no
obligation and do not undertake any obligation to update or revise
publicly any of the forward-looking statements set out herein,
whether as a result of new information, future events or otherwise,
except to the extent legally required.
Statements of intention
Statements of intention are statements of current intentions
only, which may change as new information becomes available or
circumstances change.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUOVURBKARUAA
(END) Dow Jones Newswires
October 23, 2017 09:01 ET (13:01 GMT)
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