This announcement replaces RNS announcement #27131.
10 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 0.597% of its enlarged issued share capital, following the election by Liberum 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 16 June 2011.
Following the issue and allotment, the Company's issued share capital will comprise 121,115,683 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.
- ENDS -