REG - Zanaga Iron Ore - Results of General Meeting and Board Appointments

Zanaga Iron OreAnnouncement

13/12/2022 11:45

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RNS Number : 5594J  Zanaga Iron Ore Company Ltd  13 December 2022

13 December 2022

Results of General Meeting and Board Appointments

Zanaga Iron Ore Company Limited ("Zanaga" or the "Company") (AIM: ZIOC)
announces that, further to the Company's announcements on 23 November 2022 and
25 November 2022 regarding the Company's proposed acquisition of all of
Glencore Projects Pty Limited's ("Glencore Projects") 50% plus one share
interest in Jumelles Limited, all resolutions were duly passed at the General
Meeting of the Company held earlier today.

It is anticipated that Completion of the Acquisition will occur on 16 December
2022 and the Company will make a further announcement upon Completion.
Completion is conditional upon (amongst other matters) Admission of the
Consideration Shares, expected on 16 December 2022, entry into certain
transaction documents by various parties, and other matters which are
customary for an acquisition of this nature. In addition to the conditions,
each of the parties has limited termination rights prior to Completion
including for breach of warranty and for breach of the Sale and Purchase
Agreement. The long stop date for Completion is 31 December 2022.

Effective from Completion, the Company will appoint Peter Hill and Denis
Weinstein to the board of the Company, following their nomination by
Glencore.

Biography of Peter Hill

Peter is Head of Iron Ore Marketing at Glencore International AG. Peter brings
over 14 years' experience in the mining sector, having joined Glencore in 2009
and was previously at BHP Billiton.

Biography of Denis Weinstein

Denis is a trader in Glencore International AG's Iron Ore Marketing team.
Denis rejoined Glencore in 2022, having previously been with the company from
2012 to 2020.

Clifford Elphick, Non-Executive Chairman of ZIOC, commented:

"I am pleased to report that the proposed acquisition of Glencore Projects'
shareholding in the Project has received 100% votes in favour at today's
general meeting. The transaction is expected to complete this Friday 16
December".

Disclosure required pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for
Companies

The names of all companies and partnerships of which Peter Edward Montague
Hill, aged 37, has been a director or partner at any time in the previous five
years are set out below:

 Current directorships or partnerships:  Previous directorships or partnerships:
 Jumelles Limited                        Nathan River Resources Limited

 Mont Holdings AG

 Nathan River Resources Pte Ltd

Mr Hill holds no ordinary shares in Zanaga.

Save as set out in this announcement, there are no further details to be
disclosed under Rule 17 or Schedule 2(g) of the AIM Rules for Companies in
respect of Mr Hill.

The names of all companies and partnerships of which Denis Weinstein, aged 32,
has been a director or partner at any time in the previous five years are set
out below:

 Current directorships or partnerships:  Previous directorships or partnerships:
 None                                    Cintus Worldwide Ltd.

                                         Maru Sky Limited

                                         Milingui Mining

                                         Surmira Limited

Mr Weinstein holds no ordinary shares in Zanaga.

Save as set out in this announcement, there are no further details to be
disclosed under Rule 17 or Schedule 2(g) of the AIM Rules for Companies in
respect of Mr Weinstein.

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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