On December 5, 2012, Universal Coal plc entered into a Private Placement Agreement with Coal Development Holding B.V. (CDH). As announced to the ASX in the announcement dated December 5, 2012, one of the key terms of the placement was that CDH has the right to nominate two Non-Executive Directors to be appointed to the company's Board. Following shareholder approval of the transaction at the company's Annual General meeting on December 21, 2012, the Board of Universal Coal has approved the appointment of David Twist and Carlo Baravalle as Non-executive Directors the Board of Universal Coal Plc, effective January 7, 2013 (UK time).