Issue of shares
January 13 2009 - 1:00AM
UK Regulatory
RNS Number : 5018L
Kiwara PLC
13 January 2009
JSE - KWR
AIM - KIW
ISIN - GB0007702953
13 January 2009
Kiwara plc
("Kiwara" or the "Company")
Issue of shares
Following New Africa Mining Fund's ("NAMF") agreement to swap its 25% interest in Kiwara Zambia Ltd ("Kiwara Zambia") for 8,880,796
Kiwara ordinary shares of GBP0.01 each, the Company is pleased to announce that South African Reserve Bank approval has now been granted to
complete this transaction.
Upon issue of the newly allotted shares to NAMF, Kiwara will hold a 100% interest in its subsidiary Kiwara Zambia which currently holds
75% of the issued share capital of Kalumbila Minerals Ltd.
Application has been made to the London Stock Exchange and the JSE Limited for 8,880,796 new Ordinary Shares of GBP0.01 to be admitted
to trading. Dealing is expected to commence in these shares on 14 January 2009.
The total number of Kiwara Ordinary shares of 1p each outstanding following this issue of shares will be 174,365,806. NAMF's holding in
Kiwara will increase to 13,880,796 ordinary shares representing 7.96% of the issued share capital of the Company.
About Kiwara:
Kiwara is an exploration company with a focus on base metals in the Republic of Zambia, which is a major copper producing country.
Kiwara, through its majority owned subsidiary, Kalumbila Minerals, holds Prospecting Licence 267 which is within the Kabompo Dome in
North Western Zambia, a geologically complex antiformal feature, which contains a number of base metal and uranium targets. This is within
the area considered to be the western extension of the Copperbelt, an increasingly significant mining area that contains the recently
developed Kansanshi and Lumwana copper mines.
For further information, please contact:
Kiwara Plc Tel: +44 (0)207 581 4477
Colin Bird, Chairman
Peter Vivian-Neal, Chief Executive Officer Tel: +260 (0) 211 293899
Investec Bank, Johannesburg
Robert Smith / Gavin Hall Tel: +27 (0) 11 286 7326
Investec Bank (UK) Limited Tel: +44 (0) 20 7597 5000
Gerard Kisbey-Green / Jan Bosch
Bishopsgate Communications Ltd Tel: +44 (0)20 7562 3366
Nick Rome
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCQLLFFKFBLBBL
Kiwara (LSE:KIW)
Historical Stock Chart
From Jun 2024 to Jul 2024
Kiwara (LSE:KIW)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Kiwara (London Stock Exchange): 0 recent articles
More Kiwara Plc News Articles