CoAL inks two subscription agreements for $15m

The share price of Coal of Africa Limited (CoAL) surged on the London and Johannesburg bourses on Tuesday after the announcement that two subscription agreements for proceeds of $15-million had been signed. The triple-listed coal miner, which extended the closing date for its buyout of ASX-listed Universal Coal until June 24 to allow for the conclusion of the subscription agreements, effectively replaced the terminated YBI subscription agreement and subsequent replacement loan.