Central Asia Metals PLC Completion of Aberdeen Minerals Initial Investment

RNS Number : 7365Q

Central Asia Metals PLC

03 June 2024

 

 03 June 2024

CENTRAL ASIA METALS PLC

('CAML' or the 'Company')

Completion of Initial Investment in Aberdeen Minerals Ltd

Central Asia Metals plc (AIM: CAML) announces that, following the successful fulfilment of the transaction closing conditions, as described in its announcement dated 25 March 2024, the Company has now completed its £3 million initial investment in Aberdeen Minerals Ltd ('Aberdeen'). CAML now has 35,294,117 shares, purchased at a price of 8.5 pence per share, and a 28.7% shareholding in Aberdeen.

 

Further to completion, CAML was issued warrants to invest an additional £2 million at a price of 11 pence per share, which if exercised, would bring CAML's ownership to 37.8%, assuming no further changes to Aberdeen's issued share capital.

 

CAML also confirms that, upon completion of this transaction, Louise Wrathall, CAML's Executive Director of Corporate Development, joined the Aberdeen board as a Non-Executive Director.

 

Central Asia Metals Tel: [phone] Nigel Robinson, CEO Gavin Ferrar, CFO Louise Wrathall, Director of Corporate Development [e-mail]     Peel Hunt (Nominated Advisor and Joint Broker) Tel: [phone] Ross Allister   David McKeown   Georgia Langoulant     BMO Capital Markets (Joint Broker) Tel: [phone] Thomas Rider   Pascal Lussier Duquette       BlytheRay (PR Advisors) Tel: [phone] Tim Blythe   Megan Ray

 

Note to editors:

 

Central Asia Metals, an AIM-listed UK company based in London, owns 100% of the Kounrad SX-EW copper project in central Kazakhstan and 100% of the Sasa zinc-lead mine in North Macedonia. The Company also owns an 80% interest in CAML Exploration, a subsidiary that was formed to progress early exploration opportunities in Kazakhstan, and a 28.7% interest in Aberdeen Minerals Ltd, a privately owned UK company focused on the exploration and development of base metals opportunities in Northeast Scotland.  

For further information, please visit www.centralasiametals.com and follow CAML on X at @CamlMetals and on LinkedIn at Central Asia Metals Plc

 

 

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