REG - Zanaga Iron Ore - Acquisition, Admission & Board Appointments

Zanaga Iron OreAnnouncement

16/12/2022 10:45

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RNS Number : 0157K  Zanaga Iron Ore Company Ltd  16 December 2022

16 December 2022

 

Completion of Acquisition, Admission and Board Appointments

 

Zanaga Iron Ore Company Limited ("Zanaga" or the "Company") (AIM: ZIOC)
announces that, further to the Company's previous announcements regarding the
Company's proposed acquisition of all of Glencore Projects Pty Limited's
("Glencore Projects") 50% plus one share interest in Jumelles Limited (the
"Acquisition"), Completion of the Acquisition has now occurred and the
Consideration Shares have been admitted to trading on AIM ("Admission"), and
the appointments of Peter Hill and Denis Weinstein to the board of the
Company, following their nomination by Glencore Projects, have become
effective.

Following Completion, the following Shareholders are interested, directly or
indirectly, in 3 per cent. or more of the Company's issued share capital:

Shareholder                            Number of
Shares       % of share capital

Glencore Projects                       286,340,379
              48.26%

Guava Minerals Limited*             80,252,592
            13.52%

*Clifford Elphick, the non-executive chairman of the Company, is indirectly
interested in these Shares by virtue of his interest as a potential
beneficiary in a discretionary trust which has an indirect interest in these
Shares.

Admission of the 286,340,379 Consideration Shares has become effective today.
These shares will rank pari passu with the Company's existing ordinary shares.
The Company does not hold any shares in treasury and therefore, following
Admission, the total number of ordinary shares and voting rights in the
Company is 593,374,746. This figure of 593,374,746 ordinary shares 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 FCA's Disclosure Guidance and
Transparency Rules.

Other than where defined, capitalised terms used in this announcement have the
meanings given to them in the Company's announcement of 23 November 2022.

For further information, please contact:

Zanaga Iron Ore Company Limited

Corporate Development and                    Andrew Trahar

Investor Relations Manager                     +44 20 7399
1105

Liberum Capital Limited

Nominated Adviser, Financial                  Scott Mathieson,
Edward Thomas

Adviser and Corporate Broker                 +44 20 3100 2000

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