IchorCoal has completed the purchase of a 29.99% stake in Universal Coal.
On 6 October, the shareholders of Universal Coal approved the issue of shares to IchorCoal with an overwhelming majority. Upon satisfaction of all precedent conditions, the completion of the purchase occurred on 16 October with the settlement of funds and the issue and allotment of the new shares.
Nonkululeko Nyemezi-Heita, CEO of IchorCoal, and Andries Englebrecht, COO of IchorCoal, have joined Universal Coal’s board of directors as non-executive directors.
Written by Sam Dodson
Read the article online at: https://www.worldcoal.com/coal/17102014/ichorcoal-buys-stake-in-universal-coal-1419/