Coal of Africa secures funding for Universal Coal deal

7th Dec 2015 09:59

(ShareCast News) - Mining group Coal of Africa has secured financing for its bid for South Africa-focused coal miner Universal Coal.The London-listed company said it has agreed a $3m subscription deal with M&G Investment Management and the proposed $91m buy-out offer is now fully funded, via existing cash resources and through the proceeds of a $15m investment from Yishun Brightrise.Coal said it will now seek shareholder approval for the issue of subscription shares to M&G and Yishun.Coal shares were down 1.22% to 2.62p at 1014 GMT on Monday.

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Clontarf (CLON)	0.04	19.4%
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Oracle Power (ORCP)	0.021	-30%
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Supply@me Cap (SYME)	0.02	296,023,176
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