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Share Name Share Symbol Market Type Share ISIN Share Description
Clean Invest Africa Plc NEX:CIA NEX Ordinary Share GB00BF52QX07
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0.75 0.20 1.50 0.75 0.75 0.75 0.00 07:51:29
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - -

Clean Invest Africa Plc Consideration Shares for the Acquisition

03/12/2019 7:00am

UK Regulatory (RNS & others)


 
TIDMCIA 
 
3 December 2019 
 
                            CLEAN INVEST AFRICA PLC 
 
                           ("CIA" or the "Company") 
 
    Approval of CoalTech Limited Final Tranche Consideration Shares for the 
                                  Acquisition 
 
The Company is pleased to announce that the final tranche Consideration Shares 
in respect of CoalTech Limited, pursuant to the Acquisition, can now be 
allotted and issued to the South African ("SA") Resident Vendors. Consideration 
Shares amounting to 243,553,571 new Ordinary Shares will be issued to the SA 
Resident Vendors. The Company will own 100% of the CoalTech Limited. 
Shareholders should note that there are still a further 13,291,745 Ordinary 
Shares to be issued to the SA Resident Vendors once the necessary approvals 
from South African Reserve Bank ("SARB") have been granted for the acquisition 
of Coal Agglomeration South Africa (Pty) Ltd. It is expected that SARB approval 
will be granted around January 2020. A further announcement will be made in due 
course. 
 
The Ordinary Shares are being issued at a deemed 2.75 pence per share, in 
accordance with the Acquisition Agreement, providing a valuation for the 
acquisition of the CoalTech Group of approximately GBP27.16m. 
 
Full details of the Acquisition can be found in the Admission Document dated 14 
June 2019. 
 
Application will be made for the 243,553,571 Consideration Shares to be 
admitted to trading on the NEX Exchange Growth Market and it is expected that 
admission will occur on or around 6 December 2019. 
 
Following the issue of the 243,553,571 SA Resident Vendor Consideration Shares, 
there are now 1,137,765,301 Ordinary Shares of GBP0.0025 each in issue. This 
figure may be used by Shareholders in the Company as the denominator for the 
calculations by which they will determine if they are required to notify their 
interest in, or a change in their interest in, the share capital of the Company 
under the FCA's Disclosure and Transparency Rules. 
 
The Directors of the Company accept responsibility for the content of this 
announcement. 
 
ENQUIRIES: 
 
Company 
 
Clean Invest Africa PLC 
 
Sam Preece - Executive Director 
 
Telephone: 020 3130 0674 
 
Noel Lyons - Executive Director 
 
Telephone: 020 7486 6558 
 
Corporate Adviser 
 
Peterhouse Capital Limited 
 
Guy Miller 
 
Telephone: 020 7220 9795 
 
 
 
END 
 

(END) Dow Jones Newswires

December 03, 2019 02:00 ET (07:00 GMT)

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