DGAP-News: ICHOR Coal N.V.: IchorCoal issues 5.4 million

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Oct 2, 2014 at 11:45 AM

DGAP-News: ICHOR Coal N.V.: IchorCoal issues 5.4 million new shares

DGAP-News: ICHOR Coal N.V. / Key word(s): Capital Increase ICHOR Coal N.V.: IchorCoal issues 5.4 million new shares 02.10.2014 / 17:30 --------------------------------------------------------------------- IchorCoal issues 5.4 million new shares - The new shares were placed with institutional investors for EUR 4.65 each - The proceeds of EUR 25 million will be mainly invested in a 29.99 percent acquisition of Universal Coal shares Johannesburg/Berlin, 2 October 2014. IchorCoal N.V., an international mining company with a focus on thermal coal production in South Africa, has raised EUR 25 million by issuing 5.4 million new shares to institutional investors and increasing its issued share capital by 8.6 percent. The proceeds will be mainly used to acquire a 29.99 percent stake in the coal mining company Universal Coal Plc. "This transaction demonstrates IchorCoal's ability to participate in the consolidation of the South African coal industry and is a significant step forward in our goal of creating a leading mid-tier, pure-play coal producer in South Africa" says Nonkululeko Nyembezi-Heita, CEO of IchorCoal. The acquisition of a stake in Universal Coal was announced on the 2nd of September 2014. Universal Coal focuses exclusively on the development and operation of coal mines in South Africa. The company has a number of coal assets in its portfolio, the most important being the Kangala mine, which has coal resources of just under 150 million tons and commenced production in March 2014. The transaction is still subject to the approval of Universal Coal's shareholders at an extraordinary general meeting to be held on the 6th of October 2014. Universal Coal is listed on the ASX with its administrative headquarters in London. To finance this investment IchorCoal issued 5.4 million new IchorCoal shares with a nominal value of EUR 0.10 (representing approximately 8.6 percent of IchorCoal's existing issued ordinary share capital of EUR 6,216,584.40) at an issue price of EUR 4.65 to institutional investors. The aggregate gross proceeds amount to EUR 25 million and the new shares will qualify for dividends with effect from 1 January 2014. quirin bank was acting as lead manager and bookrunner to the transaction. The Management Board About IchorCoal N.V. IchorCoal is an international mining company incorporated in the Netherlands with a focus on thermal coal production exclusively in South Africa. IchorCoal shares are traded at the German stock exchanges of Frankfurt, Berlin and Hamburg, the market capitalization is around EUR 236 million as of 8 September 2014. With access to approximately 2.77 billion tonnes of coal resources on 16 properties, IchorCoal has a stated long-term ambition to increase its current production of circa 2.7 mt per annum to 15 mt per annum by 2019 through both organic and acquisitive growth. IchorCoal and its subsidiaries have strong existing relationships with Eskom and all other relevant authorities and institutions in the South African market. IchorCoal also has enviable access to experienced and capable management and operational teams and an unwavering commitment to achieving best in class safety, health, environmental and social development standards. Forward-looking statements This news release includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning estimates of expected mining and associated costs, statements relating to estimates of, and increases in, production, cash flows and values and other statements which are not historical facts. When used in this document, words such as "could," "plan," "estimate", "expect", "intend", "may", "potential", "should" and similar expressions are forward-looking statements. Although IchorCoal believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the possibility that the Company's projects will experience technological and mechanical problems, that geological conditions in the reservoir may not result in commercial levels, that changes in product prices can have a material impact and that IchorCoal fails to raise sufficient capital to adequately fund its activities. Contact: Ichor Coal N.V. 30 Jellicoe Avenue, Rosebank 2196 South Africa +27 (87) 351 0780 An der Wuhlheide 232 12459 Berlin Germany Tel.: +49 30 65 66 81 60 Fax: +49 30 65 66 81 15 info@ichorcoal.com www.ichorcoal.com Thomas Luber NewMark Finanzkommunikation Zum Laurenburger Hof 76 60594 Frankfurt Germany Tel.: +49 69 94418069 Mobile: +49 171 8311216 Thomas.luber@newmark.de --------------------------------------------------------------------- 02.10.2014 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 290131 02.10.2014

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