UK 12:22 Saturday, 7 November 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Coal of Africa (CZA) has suspended its COO Mr Michael Jakobus Bronn after noting the judgement and fine against him for " the contravention of the Section 78 (1) (a) of the Financial Markets Act, 19 of 2012." Coal says that it is " in the process of reviewing the FSB findings, the details of which have been made public on 15 March 2017. The Company has placed Mr Brönn on suspension whilst the Company completes its internal review process." So what is Section 78? Let me enlighten you.
Fallen AIM star Coal of Africa (CZA) is making an agreed bid worth some A$126 million (£59 million) for Aussie-listed Universal Coal in a deal which, if it goes through, would give the South African-focused company immediate production and a significantly expanded project portfolio. CoAL, as the Australian-headquartered company styles itself, is offering 20 Australian cents cash or 25 cents-worth of a non-convertible loan note for each Universal share, thus significantly outbidding an existing unwelcome suitor, South African group Ichor Coal, which is a 29.9% shareholder and has already made an A$80 million hostile cash bid at 16 cents a share.
Bombed-out Coal of Africa (CZA) is turning the corner in its struggle to eliminate past losses and surmount a raft of problems. The company could soon start creating value for patient shareholders from its two billion tonnes of coal in South Africa’s Limpopo province.
David Brown, the former boss of Impala Platinum, has been working for more than a year to implement a recovery strategy for bombed-out and heavily loss-making South African mining company Coal Of Africa (CZA). He claims to have the glint of ultimate victory in his eye.
