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03 Sept 2008

APAC COAL DEVELOPMENT PROGRAM: Following Successful completion of company's IPO and listing on ASX on 10th july 2008 APAC Coal Limited (ASX: AAL) is now advancing its development program at the company's core coal asset; the BT Batubara Selarus Sapta Concession, Central East Kalimantan, Indonesia.

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10 July 2008

Coal exploration company, APAC Coal Limited (ASX: AAL), will list today on the ASX. The Initial Public Offering (IPO) closed last week having reached the minimum subscription level of A$7 million. A total of 35,727,000 ordinary shares have been issued at 20 cents to new shareholders taking the total number of issued shares to 249,705,637. APAC Coal's major shareholder is Magnus Energy Group Ltd., a Singapore-listed conglomerate with interests in oil, gas and coal.

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ASX Code AAL

Click here to retrieve share price delayed by 20 minutes, sourced from the Australian Stock Exchange.


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The Company was incorporated on 29 June 2007 and was formed with the aim of becoming a significant coal producer in the short term.

APAC intends to achieve its corporate objectives by commencing coal exploitation and mining on selected areas within the locale of its proposed coal concessions. We will develop a one-stop centre for coal, encompassing crushing, blending and stockpiling and undertake exploration activities in new areas from time-to-time.

Corporate Structure

Note:

Magnus Energy currently owns a 72% interest in PT Deefu . As at the date of this Prospectus, APAC has entered into agreements with Magnus Energy and the holder of the minority interest whereby APAC will acquire 100% of the issued capital of PT Deefu subject to confirmation that APAC will be admitted to the Official List of ASX.

PT Deefu currently owns a 95% interest in PT Batubara. The holder of the minority interest has agreed to sell its shareholding to PT Deefu subject to confirmation that APAC will be admitted to the Official List of ASX.

 

Capital Structure

From the date of incorporation of the Company to the date of this Prospectus, 13,800,000 Shares have been issued to seed capitalists.

In addition, 6,300,000 Options exercisable at 25 cents each on or before 31 October 2010 have been issued to Directors and executives of the Company.