Contango Holdings PLC CGH "in specie" Distribution (8827R)
July 08 2022 - 8:00AM
UK Regulatory
TIDMCGO
RNS Number : 8827R
Contango Holdings PLC
08 July 2022
Contango Holdings Plc / Index: LSE / Epic: CGO / Sector: Natural
Resources
8 July 2022
Contango Holdings Plc
('Contango' or the 'Company')
CGH "in specie" Distribution
Contango Holdings Plc, the London listed natural resource
company developing the Lubu Coking Coal Project in Zimbabwe
('Lubu') and the Garalo-Ntiela Gold Project in Mali
('Garalo-Ntiela'), has been advised by its largest shareholder,
Consolidated Growth Holdings Limited ("CGH") that it intends to
make an "in specie" distribution of its holding of 98,349,961
shares in the Company (a holding of 31.8%) to its shareholders.
CGH has circa 700 shareholders on its register from the period
as a public company. CGH's 20 largest shareholders represent circa
70% of the current CGH shares in issue and will therefore hold
67,999,210 shares in the Company (circa 22% of the current issued
share capital of Contango). The Company has consulted with these
shareholders, many of whom have already joined the Contango share
register through participation in capital raises and via on-market
share purchases over the past two years. The Company expects these
investors to remain supportive long-term shareholders in the
Company.
Physical share certificates will be issued to the registered
addresses of all CGH investors over the coming weeks. CGH
shareholders will be responsible for notifying the Company in the
event that their enlarged Contango shareholding exceeds 3% of the
issued share capital of Contango when existing holdings are
combined with the subsequent in specie distribution from CGH.
The total number of Contango shares in issue will remain
unchanged as a result of this shareholder distribution.
**ENDS**
For further information, please visit
www.contango-holdings-plc.co.uk or contact:
Contango Holdings plc E: contango@stbridespartners.co.uk
Chief Executive Officer
Carl Esprey
Tavira Securities Limited T: +44 (0)20 7100 5100
Financial Adviser & Broker
Jonathan Evans
St Brides Partners Ltd T: +44 (0)20 7236 1177
Financial PR & Investor Relations
Susie Geliher / Charlotte Page
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END
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