CoAL extends offer deadline for fifth time
Published by Jonathan Rowland,
Editor
World Coal,
Coal of Africa (CoAL) has extended its offer period for Universal Coal for a fifth time. The closing date has now been set at 24 June 2016.
The extension will allow CoAL to finalise two new subscription agreements that will provide US$15 million in financing for the takeover.
The new subscription agreements with Hengshun Shongsheng Group and Summer Trees PTE replace US$15 million in funding – initially a loan and then via a subscription agreement – with YBI. Full terms of the subscription agreements will be disclosed when the agreements are signed.
Universal shareholders representing 93.23% of Universal’s shares on issue have now accepted CoAL’s offer.
Edited by Jonathan Rowland.
Read the article online at: https://www.worldcoal.com/coal/16052016/coal-extends-offer-deadline-for-fifth-time-2016-778/
You might also like
Veldon partners with GMMCO technology services limited to deliver major international mining project
Veldon Group Pty Ltd (Veldon), has partnered with GMMCO Technology Services Limited (GTS) to deliver a multi-million-dollar bankable feasibility study for the new world class coking coal project, Minas de Revuboè (MdR) in Mozambique.