Issue of Shares and Total Voting Rights

RNS Number : 2713I

Ncondezi Coal Company Limited

10 June 2011

 



9 June 2011

Ncondezi Coal Company Limited (AIM:NCCL)

("Ncondezi" or the "Company")

Issue of shares and Total Voting Rights

Ncondezi Coal Company Limited announces it has issued 723,911 new ordinary shares of no par value in the Company (the "New Ordinary Shares"), representing 0.6% of its enlarged issued share capital, following the election by Renaissance Capital Limited to exercise warrants granted to it pursuant to a warrant deed dated 8 June 2010. The warrants have an exercise price of 123 pence per New Ordinary Shares.

An application has been made for the New Ordinary Shares to be admitted to trading on the AIM market of the London Stock Exchange, which is expected to take effect on or around 14 June 2011.

Following the issue and allotment, the Company's issued share capital will comprise 120,391,772 ordinary shares of no par value each, which figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, Ncondezi under the FSA's Disclosure and Transparency Rules. The New Ordinary Shares will rank pari passu with the existing Ordinary Shares.

For further information, please contact:	www.ncondezicoal.com
Ncondezi Services UK Limited
Graham Mascall/Manish Kotecha	0207 183 5402
Liberum Capital
Chris Bowman / Christopher Britton	0203 100 2222
Pelham Bell Pottinger
Charles Vivian/Philippe Polman	020 7861 3232

About Ncondezi Coal Company Limited

Ncondezi Coal Company Ltd is an exploration and development company with four coal exploration and prospecting licences in the Tete Province of Mozambique. The Company holds prospecting and exploration licences over more than 73,160 ha in the Zambezi Basin, a geological environment considered to be one of the last undeveloped coal basins in the world.

Exploration work is most advanced on the Ncondezi Project, which comprises licence areas 804L & 805L, and is located approximately 40km northeast of the provincial capital Tete and 10km from the Sena railway. The Ncondezi Project covers an area of approximately 38,700ha and has a JORC coal resource of 1.8 billion tonnes. A scoping study completed in early 2010 confirmed the economic potential for an open pittable 10 million tonne per annum export thermal coal operation with coking coal potential. It is the Company's objective to complete a definitive feasibility study on the Ncondezi Project in the second half of 2012 and move to initial production in the second half of 2014.

Further details about Ncondezi Coal Company Ltd can be found on the company's website: www.ncondezicoal.com.

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