TIDMCZA

RNS Number : 7052Z

Coal of Africa Limited

16 March 2017

ANNOUNCEMENT 16 March 2017

FINANCIAL SERVICES BOARD FINDING

Coal of Africa Limited ("CoAL" or "the Company") notes the judgement and fine lodged by the Financial Services Board ("FSB") against Mr Michiel Jakobus Brönn, Chief Operating Officer of the Company for the contravention of the Section 78 (1) (a) of the Financial Markets Act, 19 of 2012.

The Company has throughout ensured that all internal policies and governance processes were in place. The Company is in the process of reviewing the FSB findings, the details of which have been made public on 15 March 2017. The Company has placed Mr Brönn on suspension whilst the Company completes its internal review process.

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 
 Celeste Riekert    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 
  Fenton                    (United Kingdom)    Tavistock       7920 3150 
 Matthew Armitt/Ross       Nominated Adviser    Peel Hunt      +44 20 
  Allister                  and Broker           LLP            7418 8900 
 Charmane Russell/Olwen    Financial PR         Russell &      +27 11 
  Auret                     (South Africa)       Associates     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 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

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(END) Dow Jones Newswires

March 16, 2017 09:04 ET (13:04 GMT)

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