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 SHORTFALL
Continental 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 Director
For further information please contact:
Peter Landau Media (Australia)
Continental Coal Limited David Tasker
T:+ 61 8 9488 5220 Professional Public Relations
T: +61 8 9388 0944
Nominated Advisor Brokers
Oliver Morse/Trinity McIntyre Jonathan Williams
RFC Ambrian Limited RFC Ambrian Ltd
T: +61 8 9480 2500 T : +44 203 440 6817
About Continental Coal Limited
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 T +61 8 9488 5220 F +61 8 9324 3400 W
www.conticoal.com www.conticoal.com
9th Floor Fredman Towers, 13 Fredman Ground Floor, 1 Havelock Street, West
Drive, Sandton 2196 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