Zanaga Iron Ore Company Ltd Funding Update - Subscription Facility (7154W)
December 14 2023 - 2:00AM
UK Regulatory
TIDMZIOC
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 GBP777,289 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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END
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