Continental Coal Limited has lodged a prospectus with the Australian Securities and Investments Commission (ASIC) in relation to the offer of 76,278,740 free new options exercisable at $0.50 each expiring at 5.00pm (WST) on 30 June 2015 (New Options).

“This follows the previous announcement of the proposed offer of the New Options made on 4 February 2013 and the receipt of shareholder approval for the issue of the New Options at a general meeting on 28 March 2013 (GM),” Continental said.

The company noted that as set out in the previous announcement and the notice of the GM, the New Options are being offered to previous holders of listed options in the Company that expired on 13 February 2013 (Expired Options).

“It is noted that the New Options are being offered to all previous holders of the Expired Options as at 13 February 2013 on a one for one basis other than Scooby Holdings Limited, a company controlled by Jason Brewer, a director of the Company, who held 575,000 Expired Options but has elected not to accept the offer of 575,000 New Options.”

All the New Options being offered are therefore being offered to parties unrelated to the Company. The New Options will expire on 30 June 2015. Application will be made for the New Options to be listed for trading on the ASX, but not on the AIM market. Further details on the issue of New Options, including their full terms and conditions, is set out in the prospectus, a copy of which is available on the company’s website www.conticoal.com