https://www.miningweekly.com

CoAL extends Universal offer date

8th April 2016

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Triple-listed Coal of Africa Limited (CoAL) has again extended the closing date for its proposed buyout of ASX-listed Universal Coal to April 29.

This followed on two previous one-month extensions in February and March, the last of which proposed a closing date of April 15.

CoAL in November launched a $91-million offer to buy Universal, with CEO David Brown stating, at the time, that the merger of the two companies would be a springboard to a “new coal mining force”.

In an update to shareholders on Friday, the company said it received consideration elections for the loan note alternative from Universal shareholders, comprising 206-million shares, representing 40.81% of the total number of Universal shares in issue.

Further, the company received acceptances from Universal shareholders, including Universal CDI holders, equating to about 313-million Universal shares and 61.93% of the total number of Universal shares on issue.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Virtual Gas Network (Pty) Ltd
Virtual Gas Network (Pty) Ltd

Virtual Gas Network supplies compressed natural gas via a virtual gas distribution network.

VISIT SHOWROOM 
MBE Minerals SA (Pty) Ltd
MBE Minerals SA (Pty) Ltd

Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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:0.045 0.622s - 110pq - 2rq
Subscribe Now