May 31 (Reuters) - Coal of Africa Ltd CZA.AX :
* CZA update- recommended offer for universal Coal Plc CZA.AX
* Signed the two subscription agreements with hengshun zhongsheng group co., ltd and summer trees pte. ltd
* Says new subscription agreements will replace the YBI subscription agreement, which has been terminated
* Says total proceeds of US$15 million from the subscription agreements
* Subscribers will subscribe for 229.9 million and 114.9 million Coal shares respectively at a price of US$0.0435 per Coal share
* Source text for Eikon ID:nASXbpC2ng