REG - Zanaga Iron Ore - Funding Update - Subscription Facility

Zanaga Iron OreAnnouncement

14/12/2023 07:15

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RNS Number : 7154W  Zanaga Iron Ore Company Ltd  14 December 2023

14 December 2023

Shard Facility - Tranche 1 completed & Tranche 2 subscription

 

Zanaga Iron Ore Company ("ZIOC" or the "Company") (AIM:ZIOC) announces that,
further to the announcement dated 3 July 2023 in relation to the Subscription
Agreement with Shard Merchant Capital Ltd ("SMC"),  ZIOC is pleased to
report that the first tranche of 12 million ordinary shares of no par value in
the Company ("Ordinary Shares") issued pursuant to the Subscription Agreement
have been successfully placed by SMC. As provided for in the Subscription
Agreement, SMC has now subscribed for the second tranche of 12 million
Ordinary Shares ("Second Tranche Subscription Shares"), conditional on
admission of those shares to trading on AIM ("Admission").

 

ZIOC received net proceeds of approximately £777,289 in aggregate in relation
to the placing by SMC of the first tranche of 12 million Ordinary Shares under
the Subscription Agreement.

 

The Company has submitted an application for Admission and Admission is
expected to take place on 18 December 2023. The Second Tranche Subscription
Shares will rank pari passu with the Company's existing Ordinary Shares from
Admission. 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 will be 644,989,909.

 

This figure of 644,989,909 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.

______________________________________________

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW
BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"), AND IS
DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF
MAR

 

 

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

 

For further information, please contact:

Zanaga Iron Ore

Corporate Development and
Andrew Trahar

Investor Relations Manager
+44 20 7399 1105

Liberum Capital Limited

Nominated
Adviser
Scott Mathieson, Kane Collings

and Corporate Broker
                                      +44
20 3100 2000

 

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