REG - Kazera Global PLC - Strategic Shareholder Update

Kazera GlobalAnnouncement

14/12/2023 07:00

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RNS Number : 6983W  Kazera Global PLC  14 December 2023

14 December 2023

 

 

Kazera Global plc

("Kazera" or "the Company")

 

Strategic Shareholder Update

Share Purchase Completed at 1.5 Pence Per Share

 

Kazera Global plc (AIM: KZG), the AIM-quoted investment company, has been
notified that, further to its announcements on 16 March 2023, 8 December 2023
and 13 December 2023, African Mineral Sands Pte Ltd ("AMS") has now completed
its acquisition of 250,000,000 Ordinary shares of the Company previously held
by Catalyse Capital Ltd and its related parties, including R S & C A
Jennings (together "Catalyse") at a price of 1.5 pence per share.

 

As a result, AMS is now the Company's largest shareholder and holds
250,000,000 Ordinary Shares in the Company representing 26.69 per cent. of the
Company's Ordinary Shares currently in issue.

 

Dennis Edmonds, CEO of Kazera Global commented: "We are delighted that AMS has
now completed its share purchase, which was completed at 1.5 pence per share,
a premium of 183% on the Company's closing share price on 12 December 2023.

 

"It is my pleasure to welcome AMS as Kazera's new largest shareholder. AMS and
its partners have extensive experience in mining and infrastructure projects
in Southern Africa and we have no doubt that they will add significant value,
including via a number of new possible project opportunities AMS has already
introduced to Kazera."

 

Prem Premraj, CEO of African Mineral Sands added: "Whilst it has taken longer
than expected to complete the share purchase, we are delighted to now own
26.69% of Kazera.

 

"Having previously agreed to pay 1.5 pence per share we were happy to conclude
the purchase at that price as the opportunity Kazera offers is considerable.
We believe that we can use our contacts and connections to build on the
current assets and support the management team to create a highly successful
company.

 

"We look forward to working with Dennis and his team and to a very exciting
future as Kazera's largest shareholder."

 

**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 / Neil McDonald / Fergus Sullivan (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
& 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 90% direct interest in Deep Blue Minerals, of which 64%
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 60% direct beneficial interest in Whale Head Minerals.

 

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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