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| Broaden Shareholders Base with Addition of Overseas Investors |
HONG KONG, May 31, 2012 - (ACN Newswire) - LontohCoal Limited ("LontohCoal" or "the Company"), today announced the trading of LontohCoal Limited's shares on an OTC (Over-The-Counter) basis via www.lontohcoalshares.com. Trading will go live from 1 June 2012 and trading hours are weekdays between 03h00 and 22h00 excluding public holidays (South African Time). The platform allows investors to sell or buy shares from around the world and trading will begin at ZAR12.00 (approximately HKD11) per share.
Lontohcoal has been actively developing its business recently. In the last financial year, the company started generating revenue from coal exports. During the current financial year, the company concluded Off-Take Agreements amounting to US$320 million per annum with two major Chinese State-Owned entities to ensure the Company's flow of income.
The vibrant economic development in China and India, resulted in the immense growth in the construction of national infrastructures in both markets. This has driven the increasing demand for coal. The Board is confident of the economic outlook in key markets of China and India, and believes it can boost the Company's coal exports.
In April 2010, the Company issued the first public offer at ZAR1.50 per share. The proceeds from this offer were used for the initial acquisition of assets and exploration works. The Company has also raised additional equity capital at ZAR5.00 a share and this process was concluded in December 2011. The Company believes that the OTC share trading platform will not only increase the values and liquidity of its stocks, but also further build the company's profile among the international investment community prior to its listing on the Hong Kong Stock Exchange.
For details of LontohCoal's OTC share trading platform, please visit: www.lontohcoalshares.com.
Contact:
Tshepo Kgadima - President & Chief Executive Officer
Tel: +27 86 100 0670, Mobile: +27 82 965 7131,
Email: tshepo@lontohcoal.com
Topic: Press release summary
Source: Lontoh Coal Limited
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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