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

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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



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02.10.2014 Dissemination of a Corporate News, transmitted by DGAP - a
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