REG - Zanaga Iron Ore - Option Exercise and Issue of Shares

Zanaga Iron OreAnnouncement

23/05/2025 18:30

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RNS Number : 0670K  Zanaga Iron Ore Company Ltd  23 May 2025

23 May 2025

 

Zanaga Iron Ore Company Limited

("ZIOC" or the "Company")

Option Exercise and Issue of Shares

 

Zanaga Iron Ore Company Limited (AIM: ZIOC) announces that the Company's Chief
Executive Officer ("CEO") and Director, Martin Knauth, has exercised share
options, which have already vested under the Company's long term
incentivization plan ("LTIP"). As a result, the Company has agreed to issue
1,500,000 new ordinary shares of no par value in the Company ("Ordinary
Shares") in relation to the exercise of these options.

Admission

An application for the admission to trading on the AIM Market of the London
Stock Exchange of the new Ordinary Shares to be issued pursuant to the Equity
Issue has been made and the 1,500,000 new Ordinary Shares are expected to be
admitted to trading on AIM on or around 30 May 2025. These shares will rank
pari passu with the Company's existing Ordinary Shares from their date of
issue.

The Company does not hold any shares in treasury. Following admission of these
new Ordinary Shares, the total number of Ordinary Shares and voting rights in
the Company will be 832,379,996.

This figure of 832,379,996 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.

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

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 / Josh Borlant

 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

 

About ZIOC:

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

The Zanaga Iron Ore Project is a world-class asset with a 6.9 billion tonne
resource and 2.1 billion tonne reserve, designed for 30Mtpa production of
high-grade (66-68.5% Fe) pellet feed with very low levels of impurities. A
2024 Feasibility Study reaffirmed its robust economics. When fully ramped,
Phase 1 and Phase 2 combined could make Zanaga one of the largest iron
ore mines globally. With all key permits in place, Zanaga is positioned to
capitalise on growing demand for high-quality, low-impurity iron ore,
leveraging low operating costs and a cost-efficient slurry pipeline to the
port.

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

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         Martin Knauth
 2   Reason for the notification
 a)  Position/status                                              CEO and PDMR
 b)  Initial notification/Amendment                               Initial notification
 3   Details of the issuer, UK emission allowance market participant, auction
     platform or auctioneer
 a)  Name                                                         Zanaga Iron Ore Company Limited
 b)  LEI                                                          21380085XNXEX6NL6L23
 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial instrument, type of instrument  Ordinary Shares of no par value

     Identification code
                                                                  ISIN: VGG9888M1023
 b)  Nature of the transaction                                    Issue of shares upon Option Exercise
 c)  Price(s) and volume(s)                                       Price(s)                    Volume(s)
     £0.01                                                                                    1,500,000
 d)  Aggregated information                                       N/A (single transaction)

     · Aggregated volume

     · Price
 e)  Date of the transaction                                      23 May 2025
 f)  Place of the transaction                                     Outside a trading venue

 

 

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