REG - Kavango Resources - Additional Fundraise in the UK and Zimbabwe

Kavango ResourcesAnnouncement

10/10/2025 17:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251010:nRSJ9784Ca&default-theme=true

RNS Number : 9784C  Kavango Resources PLC  10 October 2025

10 October 2025

Kavango Resources PLC

("Kavango" or the "Company")

Additional Fundraise in the UK and Zimbabwe

 

Kavango Resources plc (LSE:KAV, VFEX:KAV.VX), the Southern Africa focused
metals exploration and gold production company, is pleased to announce that
following the close of its recent £2.2 million UK placing and subscription
announced on 10 September 2025, and the $4.5 million VFEX subscription
announced on 4 September 2025, the Company was made aware of further demand
for its shares in Zimbabwe and the UK. The Company has therefore raised (i) an
additional £150,000 by way of issue and subscription of 15,000,000 new
ordinary shares at £0.01 per share (the "UK Shares") in the UK (the "UK
Subscription"), and (ii) an additional US$129,035.24 by way of issue and
subscription of 9,557,448 new ordinary shares at the equivalent of £0.01 per
share (the exchange rate which is set out in the VFEX Prospectus) (the "VFEX
Shares") in Zimbabwe (the "VFEX Subscription").

 

Admission

Application has been made for the UK Shares to be admitted to the Equity
Shares (Transition) category of the Official List of the Financial Conduct
Authority (the "FCA") and to trading on the Main Market of the London Stock
Exchange plc (the "LSE") ("Admission").

Application has been made for the VFEX Shares to be first admitted to the
Equity Shares (Transition) category of the Official List of the FCA and to
trading on the Main Market of the LSE and then immediately transferred to
Zimbabwe through a branch register control account, in order for the VFEX
Shares to be listed and directly traded in Zimbabwe ("VFEX Admission").

It is expected that Admission and the VFEX Admission will become effective and
that dealings in the UK Shares and VFEX Shares will commence at 8.00 am on
or around 16 October 2025.

 

Total number of new Ordinary Shares to be issued

In total, 24,557,448 new Ordinary Shares are to be issued under the UK
Subscription and the VFEX Subscription.

 

Use of funds

As announced by the Company on 10 September 2025, funds from the UK
Subscription and the VFEX Subscription will contribute to the Company's
general working capital and will fund further exploration and mine development
work.

 

Admission and Total Voting Rights

In accordance with DTR 5.6.1 of the Financial Conduct Authority's Disclosure
Guidance and Transparency Rules (the "DTRs"), the total number of Ordinary
Shares in issue as at the date of admission of the VFEX Shares and the UK
Shares will be 3,634,380,762, with each Ordinary Share carrying the right to
one vote.

 

The Company does not hold any shares in treasury. Therefore, the number of
Ordinary Shares with voting rights will be  3,634,380,762. The above figure
may be used by shareholders as the denominator for the calculations by which
they will determine if they are required to notify their interest in, or a
change to their interest in the Company, under the DTRs.

 

Further information in respect of the Company and its business interests is
provided on the Company's website at www.kavangoresources.com
(http://www.kavangoresources.com) and on X at @KavangoRes.

 

 

For further information please contact:

 Kavango Resources plc                                    Shard Capital Partners LLP            BlytheRay

Ben Turney
                                     (Financial PR)

+46 7697 406 06                                         (Corporate Broker)                    Tim Blythe/Megan Ray/Said Izagaren
                                                          Damon Heath                           kavango@blytheray.com

+44 207 186 9952
+44 207 138 3204

 Inter-Horizon Group                                      Nurture Advisory  (Private) Limited
 (Sponsoring  Broker - Zimbabwe)
(Arrangers - Zimbabwe)

Lloyd Mlotshwa

                                                        Zinzi Mlambo- Ziki
 lmlotshwa@ih-group.com (mailto:lmlotshwa@ih-group.com)

                                                        zinzi.ziki@nurtureinvest.com

 

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE
MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON
THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED
IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  IOEMMBATMTIBBTA