coal of africa ponders delisting from asx

Coal of Africa ponders delisting from ASX

Tuesday, June 15, 2010

Coal of Africa (ASX: CZA), looking to de-list from the Australian Stock Exchange, and the AIM market of the London Stock Exchange, in order to list on the London Stock Exchange�s Main Market, will delay LSE Admission until November 2010.

This will coincide with the release of its next audited full year financial statements in October 2010, required under prospectus rules for listing on the main market.

CZA is also listed on the main board of JSE Limited.

The de-listing from the ASX is being considered because it is a requirement for inclusion in the FTSE Index UK series.

A minimum of three months' formal notice to the market is required if a company intends to delist from the ASX.

CZA�s key projects include the Woestalleen Colliery, the Mooiplaats thermal coal mine, the Vele coking coal project and the Makhado coking coal project.

The Mooiplaats coal mine commenced production in 2008 and is currently ramping up to produce 2 million tonnes per annum. CoAL's Vele and Makhado coking coal projects are expected to start production in Q3 2010 and Q1 2012 respectively, collectively producing an initial 2 Mtpa rising to a combined annual output of 10 Mtpa of coking coal.


Does anyone know what will happen if you have shares in CZA with the ASX will they be transferred over to the London Stock exchange?