- Highland Park exercised its option to purchase an additional 12.7 million shares in the Company
- Following the transaction Highland Park owns approximately 153.8 million shares or approximately 24.3% of the outstanding shares in Coalspur
Jan. 9, 2013
Coalspur Mines Limited ("Coalspur") (ASX: CPL, TSX: CPT)
is pleased to announce that its largest shareholder, the Highland Park Group ("Highland Park") has elected to exercise its option to purchase an additional 12,724,669 ordinary shares in the Company at an exercise price of
per share through its affiliate Borrowdale Park S.A. The exercise of the options followed the announcement of the commitment from EIG Global Energy Partners to provide Coalspur with a
senior debt facility on
December 20, 2012
The exercise of the options means Highland Park now owns a total of 153,840,202 ordinary shares in the Company, which represents approximately 24.3% of the ordinary shares currently outstanding.
President and CEO,
said "We are extremely pleased to have Highland Park increase their holdings in Coalspur as it demonstrates their continued support of the Company and management as we move towards construction of the Vista coal project."
The Company also advises that a further 602,666 shares will be issued for options which were transferred to other parties by Borrowdale Park and have been exercised by the transferees. The Company will issue the shares in respect of these options, which also had an exercise price of
per share, when the registration process is completed.
Total net proceeds from the exercise of the options are approximately
The full version of this news release is available on the Company's website at
and SEDAR at