https://www.miningweekly.com

CoAL awaits shareholder approval on Uitkomst deal

12th June 2017

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – The shareholders of ASX-, Aim- and JSE-listed Coal of Africa Limited (CoAL) will meet on June 15 to vote on the acquisition of the Uitkomst colliery from South Africa’s Pan African Resources Coal holdings.

The two companies in April signed a R275-million deal that would see CoAL acquire Pan African’s 91% interest in the 50 000 t/m colliery, in KwaZulu-Natal.

The transaction, which received approval from the South African Competition Commission last week, remains subject to a number of conditions precedent, including shareholder approval.

“Approval by the Competition Commission represents an important milestone in the process of securing completion of the transaction,” said CoAL CEO David Brown.

“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.”

Edited by Creamer Media Reporter

Comments

Latest News

Showroom

AutoX
AutoX

We are dedicated to business excellence and innovation.

VISIT SHOWROOM 
Universal Storage Systems (SA)
Universal Storage Systems (SA)

South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.133 0.169s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: