REG - Kazera Global PLC - Result of AGM

Kazera GlobalAnnouncement

14/01/2025 15:45

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RNS Number : 3098T  Kazera Global PLC  14 January 2025

14 January 2025

 

Kazera Global plc

("Kazera" or "the Company")

 

Result of AGM

 

Kazera Global plc, the AIM-quoted investment company, announces that at its
Annual General Meeting held today, 14 January 2025, resolutions 1 to 8 were
duly passed on a show of hands.

 

The full text of all the resolutions can be found in the Notice of Annual
General Meeting, dated 13 December 2024, a copy of which is available on the
Company's website at:

www.kazeraglobal.com/reports-presentations
(https://www.kazeraglobal.com/reports-presentations/)

 

The table below shows the proxy votes received on the resolutions proposed at
the General Meeting.

 

 Resolution  Votes For*   %      Votes Against  %     No. Votes Cast  Votes Withheld (**)
 1           266,364,089  99.94  158,066        0.06  266,522,155     24,802
 2           266,291,407  99.91  230,748        0.09  266,522,155     24,802
 3           266,291,407  99.91  230,748        0.09  266,522,155     24,802
 4           266,291,407  99.91  230,748        0.09  266,522,155     24,802
 5           266,291,407  99.91  230,748        0.09  266,522,155     24,802
 6           266,291,407  99.91  230,748        0.09  266,522,155     24,802
 7           266,176,655  99.87  345,500        0.13  266,522,155     24,802
 8           266,126,655  99.85  395,500        0.15  266,522,155     24,802

 

* Includes Chairman's discretionary votes

**A vote withheld is not a vote in law and is not counted in the calculation
of the proportion of votes "For" or "Against" any of the resolutions

 

**ENDS**

 

 Kazera Global plc                                                kazera@stbridespartners.co.uk

 Dennis Edmonds, CEO
 Strand Hanson Limited (Nominated, Financial Adviser and Broker)  Tel: +44 (0)207 409 3494

 Christopher Raggett / Ritchie Balmer
 St Brides Partners Limited (Financial PR)                        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  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 has now instituted legal proceedings against Hebei
for payment of the balance due to it.

 

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

 

 

 

 

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