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Share Name Share Symbol Market Type Share ISIN Share Description
Zanaga Iron Ore Company Limited LSE:ZIOC London Ordinary Share VGG9888M1023 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.04 0.72% 5.56 5.34 5.78 5.78 5.30 5.50 407,452 16:35:19
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -1.3 -0.4 - 17

Zanaga Iron Ore Company Ltd Funding Update

05/05/2021 7:30am

UK Regulatory (RNS & others)


Zanaga Iron Ore (LSE:ZIOC)
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RNS Number : 5369X

Zanaga Iron Ore Company Ltd

05 May 2021

5 May 2021

Shard Facility - Tranche 2 completed & Tranche 3 subscription

Zanaga Iron Ore Company ("ZIOC" or the "Company") (AIM:ZIOC) announces that, further to the announcements dated 26 June 2020 and 8 January 2021 in relation to the Subscription Agreement with Shard Merchant Capital Ltd ("SMC") , ZIOC is pleased to report that the second tranche of 7 million ordinary shares of no par value in the Company ("Ordinary Shares") issued pursuant to the Subscription Agreement has been successfully placed by SMC. As provided for in the Subscription Agreement, following approval by the Company, the Company has given notice to and SMC will subscribe for the third tranche of 7 million Ordinary Shares ("Third Tranche Subscription Shares"), conditional, amongst other things on admission of those shares to trading on AIM ("Admission").

ZIOC received net proceeds of approximately GBP559,455 in aggregate in relation to the placing by SMC of the second tranche of 7 million Ordinary Shares under the Subscription Agreement.

The Company has submitted an application for Admission and Admission is expected to take place on 6 May 2021. The Third 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 307,034,367. This figure of 307,034,367 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.

______________________________________________

The Zanaga Iron Ore Company Limited LEI number is 21380085XNXEX6NL6L23.

Zanaga Iron Ore

Corporate Development and Andrew Trahar

Investor Relations Manager +44 20 7399 1105

Liberum Capital Limited

Nominated Adviser, Financial Scott Mathieson, Edward Thomas

Adviser and Corporate Broker +44 20 3100 2000

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.

About us:

Zanaga Iron Ore Company Limited ("ZIOC" or the "Company") (AIM ticker: ZIOC) is the owner of 50% less one share in the Zanaga Iron Ore Project based in the Republic of Congo (Congo Brazzaville) through its investment in its associate Jumelles Limited. The Zanaga Iron Ore Project is one of the largest iron ore deposits in Africa and has the potential to become a world-class iron ore producer.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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END

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(END) Dow Jones Newswires

May 05, 2021 02:30 ET (06:30 GMT)

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