REG - Kavango Resources - Issue of New Ordinary Shares

Kavango ResourcesAnnouncement

14/01/2026 12:45

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RNS Number : 9145O  Kavango Resources PLC  14 January 2026

14 January 2026

Kavango Resources plc

("Kavango" or the "Company")

ISSUE OF NEW ORDINARY SHARES

Further to the announcements of 22 April 2025
(https://polaris.brighterir.com/public/kavango_resources_plc/news/rns/story/xz4mmpw)
and 5 September 2025
(https://polaris.brighterir.com/public/kavango_resources_plc/news/rns/story/xl93n3x)
, the Company is pleased to confirm that 74,016,243 new Ordinary Shares (the
"New Ordinary Shares") are to be issued on or around 16 January 2026 to
Comarton Consultants (Private) Limited ("Comarton") and nine  Pension Funds
(the "Funds") under the Comarton Managed Pension Funds Investments Consortium
("Consortium").

The Consortium's agent and administrator is Comarton, a company registered in
Zimbabwe, which has signing authority on behalf of the Consortium, in
accordance with the agreement dated 16 April 2025.  This transaction brings
the total number of Consortium pension funds now invested in Kavango to 12,
who will, upon admission of the New Ordinary Shares, have a combined holding
of 143,380,910 Ordinary Shares, including the Comarton shares, representing
3.84% of the issued share capital of the Company. In August 2025, the number
of drawdown requests was increased from three to a maximum of five, which
should be drawn down on or before 31 August 2026.

The New Ordinary Shares are to be issued to the Funds, at the issue price
of £0.01 per Ordinary Share, which is the subscription price set out in the
VFEX Prospectus and with the US Dollar and British Pound conversion rate being
the Bank of England daily spot rate on 9 December
2025 (£1 = $1.3297).

Admission

Application has been made for the New Ordinary Shares to be first admitted to
trading on the Main Market of the London Stock Exchange and then immediately
transferred to Zimbabwe through a branch register control account, in order
for such Ordinary Shares to be secondary listed on the Victoria Falls Stock
Exchange ("VFEX") and directly traded in Zimbabwe.

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 new Ordinary Shares will be
3,736,048,519, of which 444,589,978 Ordinary Shares are secondary listed on
the VFEX, 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 3,736,048,519. 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.

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/) .

 For further information please contact:

 Kavango Resources plc                                    Shard Capital Partners LLP                                           BlytheRay Ltd

Executive Chairman and interim CEO
                                                                    (Financial PR)

                                                        (Corporate Broker)
Tim Blythe/Megan Ray/Said Izagaren
 Peter F Wynter Bee                                       Damon Heath                                                          kavango@blytheray.com (mailto:kavango@blytheray.com)

+44 7973 818125
+44 204 530 6926
+44 207 138 3204

 Inter-Horizon Group                                      Nurture Advisory (Pvt) Ltd
 (Sponsoring Broker - Zimbabwe)                           (Arrangers - Zimbabwe)

Lloyd Mlotshwa

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

                                                        zinzi.ziki@nurtureinvest.com (mailto:zinzi.ziki@nurtureinvest.com)

 

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