CoAL still in discussions with HEI for $5m deal

January 11, 2016

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JSE-listed Coal of Africa Limited (CoAL) on Monday told shareholders that no binding agreements had been entered into with Hong Kong-based Haohua Energy International (HEI) for a proposed $5-million buy-in into the South African coal producer. The company was responding to HEI’s earlier Shanghai Stock Exchange announcement indicating plans to subscribe for CoAL shares at $0.0435 apiece.