Source - LSE Regulatory
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   

Dennis Edmonds, CEO   

   

kazera@stbridespartners.co.uk   

   

Cavendish Capital Markets Ltd (Nominated Adviser and Broker)   

Derrick Lee / Neil McDonald / Fergus Sullivan (Corporate Finance)  

Tel: +44 (0)207 220 0500   

St Brides Partners (Financial PR)   

Paul Dulieu / Isabel de Salis 

kazera@stbridespartners.co.uk   

   

 

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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