18 July 2024
Repayment
of Glencore loan
Zanaga Iron Ore Company ("ZIOC" or
the "Company") (AIM:ZIOC) is pleased to
announce that, following the completion of the block sale of ZIOC
shares by Shard Merchant Capital Ltd ("SMC") and share
subscriptions by Glencore and Mr Clifford Elphick (Non-Executive
Chairman of ZIOC), the Company has repaid the entirety of its loan
to Glencore.
The Company is now debt free, which
is a positive step in enabling the advancement of further
discussions with potential strategic partners.
Clifford Elphick, Chairman of ZIOC
commented:
"Following today's repayment of
Glencore's loan I am delighted to inform shareholders that ZIOC is
debt free. This is key to supporting management's engagement with
strategic partners, and I look forward to the management team
progressing the next phase of this initiative."
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