REG - Kazera Global PLC - Allotment of Shares & Total Voting Rights

Kazera GlobalAnnouncement

03/10/2024 12:30

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RNS Number : 8660G  Kazera Global PLC  03 October 2024

3 October 2024

Kazera Global plc

("Kazera" or "the Company")

 

Allotment of Shares & Total Voting Rights

 

Kazera Global plc (AIM: KZG), the AIM-quoted investment company, announces
that, further to its announcements on 7 August 2024 and 25 September 2024
("Acquisition of further stake in DBM & WHM" and "Result of General
Meeting" respectively), the Company has approved (subject to Admission) the
allotment of 27,110,947 Ordinary shares of £0.001 (the "Consideration
Shares") to Tectonic Gold PLC ("Tectonic") being the remaining consideration
of US$350,000 required to complete the acquisition from Tectonic of 10% of the
total issued share capital of Deep Blue Minerals (Pty) Ltd and Whale Head
Minerals (Pty) Ltd, together with Tectonic's rights under the BEE partners'
loan agreements.

 

Following the issue of the Consideration Shares to Tectonic, the consideration
due to Tectonic pursuant to the transaction has now been settled in full. The
Consideration Shares are subject to a lock-in period of six months from the
date of issue, followed by an additional 12-month orderly market arrangement.

 

 

Admission and Total Voting Rights

 

Application will be made for the 27,110,947 new Ordinary shares, which will
rank pari passu in all respects with the existing Ordinary shares of the
Company, to be admitted to trading on the AIM market operated by the London
Stock Exchange plc, which is expected to take place at or around 8:00am on 10
October 2024 ("Admission").

 

Following the issue of the Consideration Shares, the Company's issued ordinary
share capital will comprise 963,710,470 ordinary shares of £0.001 each, with
one voting right each. The Company does not hold any ordinary shares in
treasury. Therefore, the total number of ordinary shares and voting rights in
the Company is 963,710,470.

 

The above figure may be used by shareholders in the Company 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 share capital
of the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

**ENDS**

 

 Kazera Global plc                                               kazera@stbridespartners.co.uk (mailto:kazera@stbridespartners.co.uk)

 Dennis Edmonds, CEO
 Cavendish Capital Markets Ltd (Nominated Adviser and Broker)    Tel: +44 (0)207 220 0500

 Derrick Lee / Pearl Kellie (Corporate Finance)

 St Brides Partners (Financial PR)                               kazera@stbridespartners.co.uk (mailto:kazera@stbridespartners.co.uk)

 Paul Dulieu / Isabel de Salis

 

About Kazera Global plc

Kazera is a global investment company focused on leveraging the skills and
expertise of its Board of Directors to develop early-stage mineral exploration
and development assets towards meaningful cashflow and production. Its three
principal investments are as follows:

 

Alluvial diamond mining through Deep Blue Minerals (Pty) Ltd, Alexander Bay,
South Africa

Kazera currently has a 100% direct interest in Deep Blue Minerals, of which
74% is held beneficially by Kazera and 26% is held on behalf of Black Economic
Empowerment partners.

 

Heavy Mineral Sands mining (including ilmenite, monazite, rutile, and
zircon)  through Whale Head Minerals (Pty) Ltd, Alexander Bay, South Africa.

Kazera currently has a 70% direct beneficial interest in Whale Head Minerals
together with the benefit of a loan facility entitling it to receive
approximately £38m out of dividends from the other shareholders.

 

Tantalite mining in South-East Namibia (divestment in progress)

As announced on 20 December 2022, Kazera has agreed to dispose of African
Tantalum (Pty) Ltd ("Aftan") for a cash consideration of US$13 million plus a
debenture payment of 2.5% of the gross sales of produced lithium and tantalum
for life-of-mine. Completion of the sale is subject to receipt of full
consideration proceeds. Aftan has been deconsolidated from the Company's
financial statements with effect from 4 January 2023 because in accordance
with the terms of the sale agreement, it has relinquished control of the Aftan
in favour of the purchaser, Hebei Xinjian Construction Close Corp ("Hebei
Xinjian") with effect from that date. Kazera retains the right to cancel the
transaction and retain all amounts paid to date in the event of default by
Hebei Xinjian.

 

The Company will consider additional investment opportunities as appropriate,
having regard to the Group's future cash flow requirements.

 

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