Universal Coal Share Discussion Threads

[sagem] 21/11/2008 11:13

On 1 May 2008, Universal Coal announced that its 70.5% owned South African subsidiary had entered into a conditional agreement to acquire 100% of the Elof Project from Injula Mining Operations. On 6 August 2008, a further announcement detailed that another 100% owned South African subsidiary had entered into an exclusive option to acquire 100% of the Vlakplaats Coal Project and a 35% interest in the Camden Coal Project.

These transactions constitute a reverse takeover and are subject to shareholder approval, Ministerial consent, as well as in the case of the Elof Project, South African Reserve Bank approval. In line with the AIM rules, the Company's shares were suspended from trading on AIM on 1 May 2008.

AIM Rule 41 states that an AIM admission will be cancelled following six months suspension. As the necessary Admission documents and process were not completed by 31 October 2008, the current Admission of the Company's shares to trading was cancelled as of 7am on 3 November 2008.

The Directors are working to complete all necessary documentation to enable the return to the AIM market as soon as practicable and further announcements will be made via RNS Reach and on this website.

[kayaks] 12/11/2008 11:48

Yes I spoke to my broker after they wrote to me and he said to just hold tight and when the company gets re-listed trading will continue as normal, they will inform about any changes.

[sagem] 12/11/2008 11:19

The shares will soon be re-listed onto the AIM market coal is the thing to be in as well so the shares could do well eventually.

[sagem] 27/10/2008 07:33

LOOKING GOOD ...

Universal Coal Final Results
Date : 27/10/2008 @ 07:00
Source : UK Regulatory (RNS and others)

RNS Number : 6943G
Universal Coal PLC
27 October 2008




Universal Coal plc / Index: AIM / Epic: UCL / Sector: Natural Resources

27th October 2008

Universal Coal plc

('Universal Coal' or 'the Company')

Final Results


Universal Coal plc announces its final results for the year ended 30th June 2008.


Highlights:


*

Raised £1.59 million by way of placing 79,444,887 new ordinary shares at a price of 2p per share
*

Terminated Chinese projects to focus on coal production in South Africa
*

Entered into several significant transactions in the coal-rich South African region of Mpumalanga
*

Projects have the potential to position the Company as a notable coal producer
*

Readmission document currently being prepared


CHAIRMAN'S STATEMENT

The past year has yielded some very significant developments since the Universal Coal Board decided to terminate its remaining relationships in China. We have pursued a new investment strategy in the mining and minerals sector located in South Africa. This considered approach has resulted in the Company entering into several exciting transactions which could position the Company as a notable coal producer in Southern Africa.

On 1 May 2008, we announced that the Company's 70.5% owned South African subsidiary will acquire 100% of the Elof prospecting rights from Injula Mining Operations Pty Ltd. On 6 August 2008, we further announced that another 100% owned South African subsidiary had acquired an exclusive option to acquire 100% of the Vlakplaats open Coal Project and a 35% interest in the Camden Coal Project.

These transactions, in accordance with AIM Rules, constitute a reverse takeover and will be subject to shareholder approval. Consequently, the Company's shares have been suspended from trading on AIM until an admission document is posted to shareholders. The acquisition of the prospecting rights for both projects will also require Ministerial consent to, and registration of, the transfer by the Department of Minerals and Energy, as well as South African Reserve Bank approval.


The Company is in the process of preparing an admission document. However, the Company will not be able to complete this process by 31 October 2008, by when its shares will have been suspended from trading on AIM for six months. Therefore, in all likelihood the Company's shares will be cancelled from AIM as of 7am on 3 November 2008. The Directors are working to complete all necessary documentation to enable the Company to return to the AIM market as soon as practicable.

Summary of the transactions

Our projects have been selected due to their close proximity and location in the Witbank Coal Field, some 65km East of Johannesburg, arguably the most economically important area of coal reserves in South Africa.

Elof Coal Project

The Elof Coal Project, which comprises the Middelbult, Wolvenfontein and Modderfontein areas, contains quality domestic thermal coal that has the potential to meet ESKOM guidelines for power generation. The project is located near several coal-fired power stations and has road, rail and power infrastructure running within 1,000 metres of the project.

Of the five defined coal seams exploited in the Witbank coal field, the Elof Coal Project contains mainly JORC defined inferred resources in Seam 2 and Seam 4, which are the most widely exploited coal types, primarily used for domestic and export thermal product. This project does contain some potentially economically exploitable resources in Seam 5, which is generally classified as high-grade blending coking coal.

Elof project highlights:

*

Shallow, largely open pittable predominantly domestic grade thermal coal resources, as well as some export grade thermal coal
*

Contains 112 million tonnes ('Mt') gross in-situ tonnes of which 88Mt is currently at JORC inferred category, of which 70.5% to be attributed to Universal Coal plc
*

Adjacent to several power stations for mine gate sales to ESKOM
*

Rail, road, power and water infrastructure less than 1,000 metres away
*

Raw coal qualities have the potential to meet ESKOM guidelines with strong domestic prices
*

Management and development team to join Board/Company with extensive local coal mining experience
*

Plan to advance towards production through completion of Bankable Feasibility Study as soon as is practicable
*

Strong BEE partner with extensive project pipeline in Southern Africa


Vlakplaats Coal Project


The Vlakplaats Coal Project, which comprises the Vlakplaats and Wolvenfontein areas, contains both domestic and export quality thermal coal suitable for international markets. The project abuts the Elof Coal Project which is situated to the West.

Of the five defined coal seams exploited in the Witbank Coal Field, the Vlakplaats Coal Project contains JORC defined inferred resources in Seam 2 and Seam 4 which are the most widely exploited coal types, primarily used for domestic and export thermal product.

Vlakplaats project highlights:

*

Shallow, largely open pit prospect, containing predominantly export A-grade thermal coal resources as well as some domestic grade thermal coal
*

Contains JORC inferred resources of 179Mt gross in-situ tonnes - 100% attributed to Universal Coal plc

Camden Coal Project

Located in the Ermelo Coal Field some 200km SE of Johannesburg, the Camden Coal Project, is nearby the Camden Power Station, some 10km South of the town Ermelo. The project comprises the farms Kromdraai 441 IS, Drinkwater 443 IS, De Goede Hoop 473 IS and Burhmansklipkrans 331 KT (excluding portion 1) held under new order prospecting rights and measuring approximately 15,000 hectares.

The Camden Coal Project contains up to five coal seams, including the B and C Seams which are the most widely exploited coal seams in the Ermelo Coal Field and primarily used for domestic and export thermal product. To date no JORC or SAMREC compliant coal resources have been defined at the Project but due diligence of historical data is underway. Ongoing discussion is therefore continuing with the vendors as the Board believes the area may have the potential to host a significant coal resource.

Camden project highlights:

*

Contains up to five coal seams, including the B and C Seams which are the most widely exploited coal seams in the Ermelo Coal Field and primarily used for domestic and export thermal product
*

Located approximately 200km South East of Johannesburg, in close proximity to the Camden Power Station
*

The Board believes the area may have the potential to host a significant coal resource

In recognition of the Company's revised corporate strategy and regional focus, an Extraordinary General Meeting was held on the 1 September 2008. All proposed resolutions were duly passed, enabling the Company to allot relevant securities to facilitate both equity and debt raising finances to meet initial vendor transactional costs and working capital requirements. An initial round of funding occurred on the 26 September 2008 whereby the company raised £1.59 million by way of placing 79,444,887 new ordinary shares at a price of 2p.

I am also pleased to report that the Company is in advanced negotiations with potential end users of sea-borne A grade export thermal coal regarding appropriate funding for these transactions.

The Board is confident that these projects can attract funding in a manner that will avoid excessive dilution to the current shareholders and provide significant reward to shareholders. Further shareholder value may also be derived from ongoing negotiations of additional coal prospects with holders of other South African mining assets.

We have a great team in place which has the experience and capability to progress all of our projects through to a production phase and beyond. As we enter this promising phase of the Company's development and to better reflect its future business, the Company has appropriately changed its name to 'Universal Coal plc'.

Nathan McMahon
Chairman

[sagem] 21/10/2008 19:09

I am also out here and waiting for the listing once again...end of month....coal is back in popularity again so UCL should do well

SO WHAT HAPPEND WITH THE ST OCTOBER THEN ??
26 September 2008

Universal Coal announces it has raised approximately £1.59 million by way of a placing of 79,444,877 new Ordinary Shares at a price of 2p each ('the Placing').

Application has been made for the new Ordinary Shares to be admitted to AIM and it is expected that they will be admitted on 1st October 2008. The shares will rank pari passu with existing Ordinary Shares in issue. Following completion of the Placing, there will be 241,094,880 Ordinary Shares in

[kayaks] 20/10/2008 17:23

newyork2, I am out here and waiting for UCL to re-list at the end of this month I believe. I wonder when ADVFN are going to change the thread from United Clearing to Universal Coal.

[newyork2] 18/10/2008 18:46

anyone out there!

[pylon] 28/3/2006 08:20

EU SET TO CHALLENCE CLEARING COSTS FOR MOBILES

Will this new initiative affect the performance of United Clearing, or is most of their revenue outside of the EU?

[madmix] 05/3/2006 18:00

Hi,

In case you missed the RNS posted after hours on Friday (I only just noticed it by chance), the Offer for UCL by BILL is now Wholly Unconditional, despite having only just over 72% of acceptances.

...The Board of BSG announces that the offer (the 'Offer') being made by Evolution Securities Limited ('Evolution') on behalf of BSG for the entire issued and to be issued share capital of United Clearing Plc ('United Clearing') has today been declared wholly unconditional.

As at 1.00 p.m. on 3 March 2006, valid acceptances of the Offer had been received in respect of a total of 12,912,356 United Clearing Shares representing, in aggregate, approximately 72.27 per cent. of United Clearing's total issued share capital...

...Settlement of consideration to which any United Clearing Shareholder is entitled will be effected: (i) in the case of acceptances received (complete in all respects) by 3 March 2006 within 14 days of this date; or (ii) in the case of acceptances received (complete in all respects) after 3 March 2006 but while the Offer remains open, within 14 days of such receipt...

Which I assume means that anyone who has accepted (which includes me), will get their BILL shares by 17th March.

Just hoping that BILL puts out a decent set of results tomorrow.

Cheers,

Chris

[njp] 16/2/2006 22:51

hindsight

Presumably that 66% includes all shareholders in favour of the deal, management included. So 90% acceptances needed, surely.

[hindsight] 16/2/2006 17:35

HJP
They need 75%, as some managers are against the deal I may have jumped the gun
For the record I havent accepted, not that mine would swing the balance
H

[rambutan2] 14/2/2006 12:16

i read that some fund managers not happy with offer.
how much of that 66% is the board and related parties?

[njp] 14/2/2006 02:10

They need 90%, hindsight. Some way off yet.

[hindsight] 13/2/2006 13:20

Well looks like its a done deal as BILL have 66%
At least the BILL bb may have a few more postings as us reluctant new BILL paper holders move there

[hindsight] 09/2/2006 10:41

I agree that it would be nicer to stay with UCL but BILL maybe safer in that its spread is wider, UCL were very reliant on O2 who could change after the takeover
BILL debt over debtors £80m is not too excessive at 1/3 market cap and interest is covered 4X
The move into card clearing shows they finding other ways of adding extra revenue to the strong US posistion

[mach10] 08/2/2006 22:23

I appreciate your sentiments BB AND R2 but don't you think that in fact the factors you mention are also barriers to entry for any competition? It's a growth story so it's bound to be highly leveraged.It has a market in dollars, pound and euros so has somewhat of a currency hedge even if it's main focus is the American market. Bill has also played a blinder in its dealings with UCL which it has got on the cheap Don't forget it's going to move to the main market when so many firms are going the other way. Also it will attract tracker funds when it moves to the main market. I see little downside from here and am happy to hold BILL.

[rambutan2] 07/2/2006 09:58

and appears to me that its us mkt outlook is far from secure. and some of the debt is with hedge funds and v high interest. as far as i can see. all way too unclear for me. we going from a nicely growing niche business with lots of cash into a much larger debt charged, too complicated for my little brain, stateside business. im v happy not to accept until they force me.

[bigboris] 07/2/2006 09:25

yes agree with you ram - BILL has a great deal of debt and is increasing its debt.
BILL is a one trick pony in the US with a single core service, it has 90+% market share and so is heavily dependent on this market. Its purchase of the German clearing business has given it a more international outlook but also much needed access to its profits - is this needed to service the increasingly large debt mountain?

Re UCL as the saying goes 'if it aint broke........

[rambutan2] 01/2/2006 13:48

yes, good quarter. having read offer docs i'm still against the offer. in partic don't like the large amount of debt bill carries.

[hindsight] 01/2/2006 12:42

nurdin, where do you get 10p from ?
Looks like making 7 odd to me and shows they can do well without BILL
But with the founders joining BILL hopefully BILL can make the forecast of 19cents for 06 as on a pe of 15 makes BILL 160p, a nice gain on the 85p BILL now costing via UCL

[nurdin] 01/2/2006 11:59

Excellent Q1 results..on course to do 10p I reckon...but then BILL will benefit

[jeffsmith] 08/1/2006 12:09

My UCL holdings are in a nominee account and I'd be grateful if any holder could post the date when they receive the BILL offer. Thanks JS

[mach10] 07/1/2006 09:53

I agree DOQ! I just wish they'd kiss each other already and get it over with! I hope it can motor from here. BILL a stock for 06 without a shadow of a doubt!

[doubleorquits] 06/1/2006 22:15

Nice moves for both UCL and BILL today. BILL moved earlier today (up 6p when UCL was up 3p I think) so I am not sure who is leading whom at the moment. But who cares now that they are setting off in the right direction?

Still BILL looks on a good rating, particularly so if you own UCL shares and convert them.