CONTINENTAL COAL LTD 30 September 2014
Company Announcements Office Australian Securities Exchange Level 6, 20 Bridge Street
SYDNEY NSW 2000
Via E Lodgement
FULLY UNDERWRITTEN NON RENOUNCEABLE ENTITLEMENT ISSUE SHORTFALLContinental Coal Limited (ASX:CCC; AIM:COOL)("Continental" or "the Company") refers to the previously announced fully underwritten non renounceable entitlement issue to raise
$35,176,172 (before associated costs) by way of the issue of up to 7,035,234,408 new shares ("Entitlement Issue"). Shareholders will be entitled to acquire 9 new shares ("New Shares") for every 1 existing CCC share held at the record date (being 4 September), at an offer price of
A$0.005 per new share.
The Company advises that valid acceptances have been received from shareholders to subscribe for New Shares to the value of $3,206,562 (641,312,422 New Shares) representing a take-up of approximately 10%.
The resultant shortfall of shares to the value of $31,969,610 (6,393,921,986 New Shares) will be placed by the Underwriter to the entitlement issue, in accordance with the provisions of the Prospectus dated 28 August 2014.
Allotment of the new shares is scheduled to be completed on or about Monday 6 October
2014.
Yours faithfully
Peter Landau Executive DirectorSouth Africa Australia
T +27 11 881 1420 F +27 862064487 W www.conticoal.com T +61 8 9488 5220 F +61 8 9324 3400 W www.conticoal.com
9th Floor Fredman Towers, 13 Fredman Drive, Sandton 2196 Ground Floor, 1 Havelock Street, West Perth, WA 6005
PO Box 787646, Sandton 2146 PO Box 684, West Perth, WA 6872
Interim Executive Chairman: Dr Paul D'Sylva Interim Executive Director: Mr Peter Landau
Non-Executive Directors: Mr Connie Molusi and Dr Lars Schernikau
For further information please contact:
Peter Landau Continental Coal Limited T:+ 61 8 9488 5220 | Media (Australia) David Tasker Professional Public Relations T: +61 8 9388 0944 |
Nominated Advisor Oliver Morse/Trinity McIntyre RFC Ambrian Limited T: +61 8 9480 2500 | Brokers Jonathan Williams RFC Ambrian Ltd T : +44 203 440 6817 |
Continental Coal Limited (ASX:CCC/AIM: COOL) is a South African thermal coal producer with a portfolio of projects located in South Africa's major coal fields including two operating mines, the Vlakvarkfontein and Penumbra Coal Mines, producing approx. 2Mtpa of thermal coal for the export and domestic markets. A Feasibility Study was also completed on a proposed third mine, the De Wittekrans Coal Project with a mining right granted in September 2013.
Forward Looking Statement
This communication includes certain statements that may be deemed "forward-looking statements" and information. All statements in this communication, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects to take place in the future are forward-looking statements and information. Although the Company believes the expectations expressed in such forward-looking statements and information are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements and information. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, drilling and development results, production rates and operating costs, continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results
or developments may differ materially from those stated.
South Africa Australia
T +27 11 881 1420 F +27 862064487 W www.conticoal.com T +61 8 9488 5220 F +61 8 9324 3400 W www.conticoal.com
9th Floor Fredman Towers, 13 Fredman Drive, Sandton 2196 Ground Floor, 1 Havelock Street, West Perth, WA 6005
PO Box 787646, Sandton 2146 PO Box 684, West Perth, WA 6872
Interim Executive Chairman: Dr Paul D'Sylva Interim Executive Director: Mr Peter Landau
Non-Executive Directors: Mr Connie Molusi and Dr Lars Schernikau
|
distributed by
|
