REG - Kavango Resources - ISSUE OF NEW SHARES

Kavango ResourcesAnnouncement

05/06/2026 11:15

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RNS Number : 2281H  Kavango Resources PLC  05 June 2026

5 June 2026

Kavango Resources PLC

("Kavango" or the "Company")

ISSUE OF NEW SHARES

Kavango Resources plc (LSE:KAV, VFEX:KAV.VX), the Southern Africa focused
metals exploration and gold production company, is pleased to announce that it
has raised, by way of subscription, approximately US$ 1.9 million in Zimbabwe
("VFEX Subscription").

122,625,215  new Ordinary Shares (the "VFEX Subscription Shares") are to be
allotted and issued on or around 10 June  2026 to Dendere Asset Management
(Private) Limited ("Dendere") and three pension funds sourced and facilitated
by Dendere (the " Funds"), at a subscription price of £0.0115 per share, and
with the US Dollar and British Pound conversion rate using the Bank of England
daily spot rate on 24 March 2026 (GBP1:US1.3382).

Admission

Application has been made for the VFEX Subscription Shares to be first
admitted 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 Subscription Shares to be listed and directly traded on the
Victoria Falls Stock Exchange in Zimbabwe ("VFEX Admission").

It is expected that the VFEX Admission will become effective and that dealings
in the VFEX Subscription Shares will commence at 8.00 am on or around 10 June
2026.

Funds from the VFEX Subscription, in addition to the existing cash resources
of the Company and committed funds, are intended to be used for the further
expansion of the Hillside gold production, the Nara project, further
exploration in Zimbabwe and general working capital.

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
4,525,261,341, of which  953,802,800  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 4,525,261,341. 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/Isabella Pierre                                          kavango@blytheray.com (mailto:kavango@blytheray.com)

+44 7973 818125
+44 (0)20 4530 6928
+44 207 138 3204

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

Lloyd Mlotshwa
                                                                    (Placement Agent - Zimbabwe)

                                                        Zinzi Mlambo- Ziki

 lmlotshwa@ih-group.com (mailto:lmlotshwa@ih-group.com)
                                                                    Jubelah Magutakuona

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

                                                                                                                               jmagutakuona@denderecapital.co.zw
                                                                                                                               (file:///C:/Users/das.jdervyn/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/RRRJ7W0T/jmagutakuona@denderecapital.co.zw)

 

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