REG - Kazera Global PLC - Result of General Meeting

Kazera GlobalAnnouncement

25/09/2024 18:00

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RNS Number : 6927F  Kazera Global PLC  25 September 2024

25 September 2024

Kazera Global plc

('Kazera' or 'the Company)

 

Result of General Meeting

 

Kazera Global plc, the AIM-quoted investment company, announces that at its
General Meeting held today, 25 September 2024, both resolutions were duly
passed on a show of hands.

 

The passing of the resolutions enables the Company to finalise the purchase of
Tectonic Gold PLC's ("Tectonic") 10% shareholdings in both Deep Blue Minerals
(Pty) Ltd ("DBM") and Whale Head Minerals (Pty) Ltd ("WHM"), along with
Tectonic's economic interest in loans it has with WHM's Black Economic
Empowerment partners, as detailed in the Company's RNS dated 7 August 2024,
which increases Kazera's beneficial interest in WHM to 70% and in DBM to 74%.
It also enables the Company to meet the obligations of its loan agreements
with Richard Jennings and Tracarta Limited, as announced on 9 August 2024.

 

The full text of all the resolutions can be found in the Notice of General
Meeting, dated 4 September 2024, a copy of which is available on the Company's
website at:

https://kazeraglobal.com/admission-documents-circulars/
(https://kazeraglobal.com/admission-documents-circulars/)

 

The table below shows the votes rights represented at the General Meeting
including proxy votes received.

 

 Resolution  Votes For*   %      Votes Against  %     No. Votes Cast  Votes Withheld**
 1           217,651,482  99.61  845,514        0.39  218,496,996     -
 2           217,850,901  99.70  646,095        0.30  218,496,996     -

 

(*) Includes 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

 

For further information visit  (http://www.) www.kazeraglobal.com
(http://www.kazeraglobal.com/) . (http://www.kazeraglobal.com/)  or
contact:

 

 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 

 

ENDS

 

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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