Continental Coal Ltd

Cancellation of admission to trading on AIM


14 October 2014

Company Announcements Office
Australian Securities Exchange
Level 6, 20 Bridge Street
SYDNEY NSW 2000

Via E Lodgement

                  Cancellation of admission to trading on AIM                  

The board of Continental Coal Limited (ASX:CCC; AIM:COOL)("Continental" or "the
Company") refers to its corporate update announcement dated 10 October advising
that it has been presented with offers from third parties interested in
acquiring its 74% interest in its South African subsidiary Continental Coal
Limited SA ("CCL SA"). The Board is finalising legal advice with regards to a
scenario whereby an accepted offer is announced and Shareholders are then
offered the opportunity to have their funds returned from the Rights Issue,
remain in a new raising by way of a supplementary prospectus or participate in
the new raising given the change in circumstances which some Shareholders may
want to participate in as opposed to the previous Rights Issue. As a
consequence of this development, Continental has deferred finalising the
completion of any refinancing of the Company through the current Rights Issue
process.

Given the timetable for completion of the refinancing or sale of the Company's
74% interest in CCL SA, the Company is unable to restore its securities to
trading on AIM in the immediate short term.  As the Company's securities have
also been suspended from trading on AIM for over six months, under the
requirements of Rule 41 of the AIM Rules for Companies Continental's admission
to trading on AIM will be cancelled, effective 7am Wednesday, 15 October 2014.

Appropriate arrangements will be made for all security holders whose securities
are currently traded as Depository Interests on AIM to be registered on the
Company's Australian register of members and for them to be able to trade their
securities on the ASX when reinstatement post recapitalisation occurs. The
Company's registrar, Computershare Investor Services Pty Ltd, will write to all
Depository Interest holders to advise as to the process for the termination of
Depository Interests.

In the meantime however, if any of those security holders have any questions
they should contact the Company's Registrar, Computershare Investor Services
Pty Ltd.

For and on behalf of the Board


Peter Landau
Executive Director

For further information please contact:

Investors | Shareholders                    Media (Australia)
Peter Landau                                David Tasker
Continental Coal Limited                    Professional Public Relations
T: + 61 8 9488 5220                         T: +61 8 9388 0944
E: [email protected]                      E : [email protected]

Nominated Advisor                           Brokers(UK)
Oliver Morse/Trinity McIntyre               Jonathan Williams
RFC Ambrian Limited                         RFC Ambrian Ltd
T: +61 8 9480 2500                          T : +44 203 440 6817


About Continental Coal Limited

Continental Coal Limited (ASX:CCC/AIM: COOL) is a South African thermal coal
producer with a portfolio of projects located in South Africa's major coal
fields including two operating mines, the Vlakvarkfontein and Penumbra Coal
Mines, producing approx. 2Mtpa of thermal coal for the export and domestic
markets. A Feasibility Study was also completed on a proposed third mine, the
De Wittekrans Coal Project with a mining right granted in September 2013.

Forward Looking Statement

This communication includes certain statements that may be deemed
"forward-looking statements" and information. All statements in this
communication, other than statements of historical facts, that address future
production, reserve potential, exploration drilling, exploitation activities
and events or developments that the Company expects to take place in the future
are forward-looking statements and information. Although the Company believes
the expectations expressed in such forward-looking statements and information
are based on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ materially
from those in the forward-looking statements and information. Factors that
could cause actual results to differ materially from those in forward-looking
statements include market prices, exploitation and exploration successes,
drilling and development results, production rates and operating costs,
continued availability of capital and financing and general economic, market or
business conditions. Investors are cautioned that any such statements are not
guarantees of future performance and actual results or developments may differ
materially from those stated.

                          South Africa Australia                               
                                                                               
   T +27 11 881 1420 F +27 862064487 W T +61 8 9488 5220 F +61 8 9324 3400 W   
                     www.conticoal.com www.conticoal.com                       
                                                                               
  9th Floor Fredman Towers, 13 Fredman Ground Floor, 1 Havelock Street, West   
                   Drive, Sandton 2196 Perth, WA 6005                          
                                                                               
           PO Box 787646, Sandton 2146 PO Box 684, West Perth, WA 6872         
                                                                               
  Interim Executive Chairman: Dr Paul D'Sylva Interim Executive Director: Mr   
                                 Peter Landau                                  
                                                                               
       Non-Executive Directors: Mr Connie Molusi and Dr Lars Schernikau        



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