Extension of shareholder lock-ups (4178S)
November 21 2011 - 2:00AM
UK Regulatory
TIDMZIOC
RNS Number : 4178S
Zanaga Iron Ore Company Ltd
21 November 2011
21 November 2011
ZANAGA IRON ORE COMPANY LIMITED
Extension of shareholder lock-ups
On 31 October 2011, Zanaga Iron Ore Company Limited (AIM:ZIOC)
announced the commencement of a process to identify a party to
become a strategic partner in the development of the Zanaga Iron
Ore Project in the Republic of Congo. The process is being
conducted jointly by Xstrata and ZIOC. However, Xstrata intends to
fully retain its interest in the Zanaga Iron Ore Project.
ZIOC is pleased to announce that, with a view to facilitating
the process, Garbet Limited, Guava Minerals Limited, Michael
Haworth and Clifford Elphick have agreed to extend their respective
existing lock-ups. Garbet Limited has a direct interest in
approximately 41.25 per cent. of ZIOC's issued shares. Guava
Minerals Limited has a direct interest in approximately 31.64 per
cent. of ZIOC's issued shares.
Subject to an option for Garbet Limited and Guava Minerals
Limited (acting jointly) to terminate the lock-ups on 31 January
2012, the lock-ups will be extended until 16 April 2012.
For further information please contact:
Zanaga UK Services Limited
Corporate Development and Andrew Trahar Investor Relations
Manager +44 20 7399 1105
Liberum Capital Limited
Nominated Adviser, Financial Chris Bowman, Christopher Britton
Adviser and Joint Corporate Broker and Christopher Kololian
+44 20 3100 2000
Citigroup Global Markets Limited
Joint Corporate Broker Alex Carter
+44 20 7986 4000
Pelham Bell Pottinger
Financial PR James MacFarlane
and Philippe Polman
+44 20 7861 3232
About us:
Zanaga Iron Ore Company Limited (AIM:ZIOC) is a BVI registered
Company and the owner of 50% less one share interest in the Zanaga
Iron Ore Project based in the Republic of Congo (Congo Brazzaville)
through its joint venture partnership with Xstrata. The Zanaga
Project is focused on the management, development and construction
of a world-class iron ore mine and related, processing,
transportationand port infrastructure.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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