CoAL extends Universal acquisition closing date to July 15

Coal development and mining company Coal of Africa Limited (CoAL) has extended the offer period for the acquisition of Universal Coal to July 15, to enable the enlarged group to “ensure it is financially in a position to advance its combined prospects” and that CoAL’s working capital is such that its shares are readmitted to trading on the Aim. CoAL, therefore, continues with negotiations with a number of third parties regarding potential working capital funding opportunities.