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Coal of Africa Limited

As of 31 December 2011 GCM holds 17.7 million shares in Coal of Africa Limited (CoAL) representing 2.7% of CoAL's issued share capital.

CoAL's principal activity is the exploration, development and mining of coal interests in South Africa. CoAL is listed on the Australian Stock Exchange, Johannesburg Stock Exchange and AIM. Steve Bywater, the Chief Executive of GCM is a non-executive director of CoAL.