01 July 2024
Shard
Facility Executed Successfully
Further to the announcement on 28
June 2024 by Zanaga Iron Ore Company ("ZIOC" or the "Company")
(AIM:ZIOC) of its intentions to enter into further funding
arrangements with Shard Merchant Capital
Ltd ("SMC"), ZIOC is pleased to announce that on 29 June 2024 the
Company gave notice that it will issue the final tranche of shares
("Existing ESA Tranche 3")
relating to the Company's existing equity
subscription agreement with SMC ("Existing ESA"), authorised the
issue of the Existing ESA Tranche 3 shares, entered into a new
equity subscription agreement with SMC ("2024 ESA") in accordance
with the terms outlined earlier today, and authorised the issue of
the first tranche of shares in accordance with the 2024 ESA
(the "2024 First Tranche").
An application for the admission to
trading on AIM of the 24 million Ordinary Shares to be issued
pursuant to Existing ESA Tranche 3
and 2024 ESA First Tranche has been made
and these Ordinary Shares are expected to be admitted to trading on
AIM on 4 July 2024.
Ordinary Shares issued pursuant to
the Existing ESA Tranche 3 and
2024 ESA First Tranche will rank pari passu with
each other and with the Company's existing Ordinary Shares. The
Company does not hold any shares in treasury. Following admission
of the Ordinary Shares issued pursuant to the Existing ESA Tranche
3 and the 2024 ESA First Tranche, the total number of Ordinary
Shares and voting rights in the Company will be 668,989,909.
Following Admission, this figure
of 668,989,909 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.
Clifford Elphick, Chairman of ZIOC
commented:
"Following entry into of the 2024
Equity Subscription Agreement, ZIOC is pleased that a further
financing structure has been put in place which will give the
Company access to funding through a relatively low cost structure
which minimises dilution to shareholders.
This transaction enables ZIOC to
secure capital in the future as the project progresses and further
milestones are achieved."
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
Panmure Liberum Capital
Limited
Nominated Adviser,
Financial
Scott Mathieson, John More
Adviser and Corporate Broker
+44
20 3100 2000
Shard Capital Partners LLP
Corporate Broker
Damon Heath
+44 207
186 9952
______________________________________________
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