Kazera Global PLC Strategic Shareholder Update (6983W)
14 Dicembre 2023 - 8:00AM
UK Regulatory
TIDMKZG
RNS Number : 6983W
Kazera Global PLC
14 December 2023
14 December 2023
Kazera Global plc
("Kazera" or "the Company")
Strategic Shareholder Update
Share Purchase Completed at 1.5 Pence Per Share
Kazera Global plc (AIM: KZG), the AIM-quoted investment company,
has been notified that, further to its announcements on 16 March
2023, 8 December 2023 and 13 December 2023, African Mineral Sands
Pte Ltd ("AMS") has now completed its acquisition of 250,000,000
Ordinary shares of the Company previously held by Catalyse Capital
Ltd and its related parties, including R S & C A Jennings
(together "Catalyse") at a price of 1.5 pence per share.
As a result, AMS is now the Company's largest shareholder and
holds 250,000,000 Ordinary Shares in the Company representing 26.69
per cent. of the Company's Ordinary Shares currently in issue.
Dennis Edmonds, CEO of Kazera Global commented: "We are
delighted that AMS has now completed its share purchase, which was
completed at 1.5 pence per share, a premium of 183% on the
Company's closing share price on 12 December 2023.
"It is my pleasure to welcome AMS as Kazera's new largest
shareholder. AMS and its partners have extensive experience in
mining and infrastructure projects in Southern Africa and we have
no doubt that they will add significant value, including via a
number of new possible project opportunities AMS has already
introduced to Kazera."
Prem Premraj, CEO of African Mineral Sands added : "Whilst it
has taken longer than expected to complete the share purchase, we
are delighted to now own 26.69% of Kazera.
"Having previously agreed to pay 1.5 pence per share we were
happy to conclude the purchase at that price as the opportunity
Kazera offers is considerable. We believe that we can use our
contacts and connections to build on the current assets and support
the management team to create a highly successful company.
"We look forward to working with Dennis and his team and to a
very exciting future as Kazera's largest shareholder."
**ENDS**
Kazera Global plc kazera@stbridespartners.co.uk
Dennis Edmonds, CEO
Cavendish Capital Markets Ltd (Nominated Adviser and Broker) Tel: +44 (0)207 220 0500
Derrick Lee / Neil McDonald / Fergus Sullivan (Corporate Finance)
-----------------------------
St Brides Partners (Financial PR) kazera@stbridespartners.co.uk
Paul Dulieu / Isabel de Salis
-----------------------------
About Kazera Global plc
Kazera is a global investment company focused on leveraging the
skills and expertise of its Board of Directors to develop
early-stage mineral exploration & development assets towards
meaningful cashflow and production.
Its three principal investments are as follows:
Alluvial diamond mining through Deep Blue Minerals (Pty) Ltd,
Alexander Bay, South Africa
Kazera currently has a 90% direct interest in Deep Blue
Minerals, of which 64% is held beneficially by Kazera and 26% is
held on behalf of Black Economic Empowerment partners.
Heavy Mineral Sands mining (including ilmenite, monazite,
rutile, and zircon) through Whale Head Minerals (Pty) Ltd,
Alexander Bay, South Africa.
Kazera currently has a 60% direct beneficial interest in Whale
Head Minerals.
Tantalite mining in South-East Namibia (divestment in
progress)
As announced on 20 December 2022, Kazera has agreed to dispose
of African Tantalum (Pty) Ltd ("Aftan") for a cash consideration of
US$13 million plus a debenture payment of 2.5% of the gross sales
of produced lithium and tantalum for life-of-mine. Completion of
the sale is subject to receipt of full consideration proceeds.
Aftan has been deconsolidated from the Company's financial
statements with effect from 4 January 2023 because in accordance
with the terms of the sale agreement, it has relinquished control
of the Aftan in favour of the purchaser, Hebei Xinjian Construction
Close Corp ("Hebei Xinjian") with effect from that date. Kazera
retains the right to cancel the transaction and retain all amounts
paid to date in the event of default by Hebei Xinjian.
The Company will consider additional investment opportunities as
appropriate, having regard to the Group's future cash flow
requirements.
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END
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