REG - Contango HoldingsPLC - CGH “in specie” Distribution

Contango HoldingsAnnouncement

08/07/2022 13:00

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RNS Number : 8827R  Contango Holdings PLC  08 July 2022

Contango Holdings Plc / Index: LSE / Epic: CGO / Sector: Natural Resources

8 July 2022

Contango Holdings Plc

('Contango' or the 'Company')

 

CGH "in specie" Distribution

 

Contango Holdings Plc, the London listed natural resource company developing
the Lubu Coking Coal Project in Zimbabwe ('Lubu') and the Garalo-Ntiela Gold
Project in Mali ('Garalo-Ntiela'), has been advised by its largest
shareholder, Consolidated Growth Holdings Limited ("CGH") that it intends to
make an "in specie" distribution of its holding of 98,349,961 shares in the
Company (a holding of 31.8%) to its shareholders.

 

CGH has circa 700 shareholders on its register from the period as a public
company. CGH's 20 largest shareholders represent circa 70% of the current CGH
shares in issue and will therefore hold 67,999,210 shares in the Company
(circa 22% of the current issued share capital of Contango). The Company has
consulted with these shareholders, many of whom have already joined the
Contango share register through participation in capital raises and via
on-market share purchases over the past two years. The Company expects these
investors to remain supportive long-term shareholders in the Company.

 

Physical share certificates will be issued to the registered addresses of all
CGH investors over the coming weeks. CGH shareholders will be responsible for
notifying the Company in the event that their enlarged Contango shareholding
exceeds 3% of the issued share capital of Contango when existing holdings are
combined with the subsequent in specie distribution from CGH.

 

The total number of Contango shares in issue will remain unchanged as a result
of this shareholder distribution.

 

**ENDS**

 

For further information, please visit www.contango-holdings-plc.co.uk or
contact:

 

 Contango Holdings plc                   E: contango@stbridespartners.co.uk

 Chief Executive Officer

 Carl Esprey

 Tavira Securities Limited               T: +44 (0)20 7100 5100

 Financial Adviser & Broker

 Jonathan Evans

 St Brides Partners Ltd                  T: +44 (0)20 7236 1177

 Financial PR & Investor Relations

 Susie Geliher / Charlotte Page

 

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