REG - Zanaga Iron Ore - Execution of Share Lock-in Agreements

Zanaga Iron OreAnnouncement

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RNS Number : 1104B  Zanaga Iron Ore Company Ltd  29 September 2025

29 September 2025

 

Zanaga Iron Ore Company Limited

("ZIOC" or the "Company")

Execution of Share Lock-in Agreements with Major Shareholders

 

Zanaga Iron Ore Company Limited (AIM: ZIOC) announces that, following a
request from a potential investor engaged in ZIOC's strategic partner process,
lock-in agreements have been signed between the Company and a number of its
significant shareholders, representing approximately 34.86% of the Company's
issued share capital.

The details of the arrangements are as follows:

·      Lock-in type: Fully restricted

·      Lock-in period: Six months until 26(th) February 2026

·      Shareholders involved: The combined lock-in accounts for
approximately 34.86% of the Company's issued share capital. The shareholders
subject to this arrangement are:

1.   Guava Minerals Limited: owning 9.60% of the Company's issued share
capital

a.  Mr Clifford Elphick, Chairman of ZIOC, continues to be a potential
beneficiary of a discretionary trust that has an interest in Guava Minerals
Limited

2.   Greymont Bay Consortium, including:

b.  Greymont Bay I LLC: owning 18.28% of the Company's issued share capital

c.  Regatta HCRP I LP: owning 6.98% of the Company's issued share capital

 

For further information, please contact:

 Zanaga Iron Ore Company Limited                             Andrew Trahar

 Corporate Development and Investor Relations Manager        +44 20 3916 5021

 Panmure Liberum Limited                                     Scott Mathieson / John More

 Nominated Adviser, Financial Adviser and Corporate Broker   +44 20 3100 2000
 Shard Capital Partners LLP                                  Damon Heath

 Corporate Broker                                            +44 20 7186 9952
 BlytheRay                                                   Tim Blythe / Megan Ray / Will Jones

 Public Relations                                            +44 20 7138 3204

                                                             Zanaga@BlytheRay.com

 

About ZIOC:

Zanaga Iron Ore Company Limited (AIM ticker: ZIOC) is an iron ore exploration
and development company, with its flagship asset being the 100%
owned Zanaga Iron Ore Project, located in the Republic of Congo. The
Government Mining Licence, Environmental Permit, and Mining Convention are all
in place for this project.

The Zanaga Iron Ore Project is a highly significant asset with a 6.9 billion
tonne resource and 2.1 billion tonne reserve, aimed at 30Mtpa production of
high-grade DRI pellet feed with very low impurity levels. A 2024 Feasibility
Study confirmed its strong economic viability. When fully developed, Stage One
(12Mtpa) and Stage Two (18Mtpa expansion) together could establish Zanaga as
one of the largest iron ore mines worldwide. With all key permits secured,
Zanaga is well positioned to benefit from increasing demand for high-quality,
low-impurity iron ore, utilising low operating costs and an efficient slurry
pipeline to the port.

In light of the changes in the world's economy and the increasing demand for
low-carbon steel production, the Zanaga Project is well-positioned to become
one of the largest producers of high-grade premium DRI pellet feed iron ore
concentrate.

The Zanaga Iron Ore Company Limited LEI number is 21380085XNXEX6NL6L23.

 

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