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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 07:50:28
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - -

Clean Invest Africa Plc Trading Update

30/10/2019 7:00am

UK Regulatory (RNS & others)


 
TIDMCIA 
 
30 October 2019 
 
                            CLEAN INVEST AFRICA PLC 
 
                           ("CIA" or the "Company") 
 
                                Trading Update 
 
In July 2019, the Company completed the acquisition of CoalTech Limited and its 
wholly owned subsidiary, Coal Tech LLC, and Coal Agglomeration South Africa 
(Pty) Ltd (together the "CoalTech Group") and was re-admitted to trading on the 
NEX Exchange. The Company also raised GBP 130,000 in total, equally from two 
non-executive directors, Noel Lyons and Paul Ryan, via a convertible loan note 
that has a conversion price of 2.75p per share. Further details can be found in 
the announcement of 26 July 2019. 
 
The Admission Document of 14 June 2019 anticipated the South African Reserve 
Bank ("SARB") approval on 30 August 2019. The process of approval is on-going 
and the Company anticipates issuing the remainder of the 256,845,316 
Consideration Shares pursuant to the Acquisition of the CoalTech Group, shortly 
to the SA Resident Vendors.  A further announcement will be made in due course. 
 
Through CoalTech Limited, the Company continues to explore expansion 
opportunities in new geographies. This includes trials in Poland and in South 
Africa whereby samples of coal fines provided by interested parties have been 
successfully converted to coal pellets and accordingly, several new commercial 
opportunities are in the late stages of discussion. A joint venture company 
called CoalTech S.a.r.l. has been established with Creon Capital S.a.r.l. in 
Luxembourg, as a partnership to develop opportunities to build coal 
pelletisation plants in Russia and the Commonwealth of Independent States. 
 
As part of the integration process, and as announced on 30 September 2019, the 
Company, along with CoalTech Limited, will change its year end date to 31 
December to align the accounting year end date of all companies within the 
Group. 
 
Mr. Filippo Fantechi, Non-Executive Chairman of the Company, commented "we are 
delighted by the level of commercial interest being shown in the CoalTech 
proprietary technology for cleaning up the environmental problem by converting 
coal fines waste into commercially viable coal pellets". 
 
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 - Non-executive Director 
Telephone: 020 7486 6558 
 
Corporate Adviser 
 
Peterhouse Capital Limited 
Guy Miller 
Telephone: 020 7220 9795 
 
 
 
END 
 

(END) Dow Jones Newswires

October 30, 2019 03:00 ET (07:00 GMT)

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