CoAL’s bid for Uitkomst gets shareholder thumbs up

The shareholders of triple-listed Coal of Africa Limited (CoAL) on Thursday gave the green light for the coal junior’s buyout of Pan African Resources Coal Holdings, which owns the Uitkomst colliery, from JSE-listed Pan African Resources. Following a general meeting on Thursday, all resolutions required to implement the R275-million bid for the 50 000 t/m Uitkomst colliery, in KwaZulu-Natal, had been passed unanimously.