Cokal unveils private placement to Cedrus
Monday, June 1 2015 - 01:38 AM WIB
ASX-listed global metallurgical coal group Cokal Limited announced Monday a private placement in the company to Cedrus Investments Ltd.
The company said it will issue Cedrus with 27,777,778 fully paid ordinary shares in Cokal Ltd at a price of A$0.09 per share, raising A$2,500,000, before costs. On issue, the placement shares will rank equally with all other ordinary shares then on issue.
The placement will be completed within Cokal?s placement capacity and accordingly no shareholder approval will be sought, the company said.
The placement was (as required under Bid Implementation Agreement announced on April 29, 2015) consented to by IDX-listed mining firm PT Cakra Mineral Tbk (CKRA) and does not change the offer price of their conditional off market takeover bid.
Cedrus manages a global portfolio of proprietary direct investments in China, Southeast and Central Asia, Australia and Africa, primarily in the natural resources, commodities, cleantech and life sciences sectors.
Cedrus along with Platinum Partners has provided Cokal with a non- binding term sheet to Cokal in relation to a US$110 million project finance facility for the BBM coking project in Central Kalimantan as announced on February 9, 2015.
Editing by Reiner Simanjuntak