CoAL suspended due to ‘administrative challenges’
Shares of Coal of Africa, now known as MC Mining, were temporarily suspended on the JSE on Monday; trading is expected to resume on Tuesday
Shares of Coal of Africa (CoAL), now known as MC Mining, were temporarily suspended on the JSE on Monday, with trading in the shares expected to resume on Tuesday.
The suspension followed divergent treatment of changes to CoAL’s international securities identification number, arising from a proposed share consolidation and name changes.
London-listed CoAL will be suspended on the London Stock Exchange on Tuesday until Wednesday.
Administrative challenges had meant the suspension was unavoidable, CoAL said in a statement.
At the annual general meeting on Friday shareholders voted in favour of both the name change and a share-consolidation.