Zanaga Iron Ore Company Ltd Results of General Meeting and Board Appointments (5594J)
13 Dezembro 2022 - 8:45AM
UK Regulatory
TIDMZIOC
RNS Number : 5594J
Zanaga Iron Ore Company Ltd
13 December 2022
13 December 2022
Results of General Meeting and Board Appointments
Zanaga Iron Ore Company Limited ("Zanaga" or the "Company")
(AIM: ZIOC) announces that, further to the Company's announcements
on 23 November 2022 and 25 November 2022 regarding the Company's
proposed acquisition of all of Glencore Projects Pty Limited's
("Glencore Projects") 50% plus one share interest in Jumelles
Limited, all resolutions were duly passed at the General Meeting of
the Company held earlier today.
It is anticipated that Completion of the Acquisition will occur
on 16 December 2022 and the Company will make a further
announcement upon Completion. Completion is conditional upon
(amongst other matters) Admission of the Consideration Shares,
expected on 16 December 2022, entry into certain transaction
documents by various parties, and other matters which are customary
for an acquisition of this nature. In addition to the conditions,
each of the parties has limited termination rights prior to
Completion including for breach of warranty and for breach of the
Sale and Purchase Agreement. The long stop date for Completion is
31 December 2022.
Effective from Completion, the Company will appoint Peter Hill
and Denis Weinstein to the board of the Company, following their
nomination by Glencore.
Biography of Peter Hill
Peter is Head of Iron Ore Marketing at Glencore International
AG. Peter brings over 14 years' experience in the mining sector,
having joined Glencore in 2009 and was previously at BHP
Billiton.
Biography of Denis Weinstein
Denis is a trader in Glencore International AG's Iron Ore
Marketing team. Denis rejoined Glencore in 2022, having previously
been with the company from 2012 to 2020.
Clifford Elphick, Non-Executive Chairman of ZIOC, commented:
"I am pleased to report that the proposed acquisition of
Glencore Projects' shareholding in the Project has received 100%
votes in favour at today's general meeting. The transaction is
expected to complete this Friday 16 December".
Disclosure required pursuant to Rule 17 and Schedule 2(g) of the
AIM Rules for Companies
The names of all companies and partnerships of which Peter
Edward Montague Hill, aged 37, has been a director or partner at
any time in the previous five years are set out below:
Current directorships or partnerships: Previous directorships or partnerships:
Jumelles Limited Nathan River Resources Limited
Mont Holdings AG
Nathan River Resources Pte Ltd
Mr Hill holds no ordinary shares in Zanaga.
Save as set out in this announcement, there are no further
details to be disclosed under Rule 17 or Schedule 2(g) of the AIM
Rules for Companies in respect of Mr Hill.
The names of all companies and partnerships of which Denis
Weinstein, aged 32, has been a director or partner at any time in
the previous five years are set out below:
Current directorships or partnerships: Previous directorships or partnerships:
None Cintus Worldwide Ltd.
Maru Sky Limited
Milingui Mining
Surmira Limited
Mr Weinstein holds no ordinary shares in Zanaga.
Save as set out in this announcement, there are no further
details to be disclosed under Rule 17 or Schedule 2(g) of the AIM
Rules for Companies in respect of Mr Weinstein.
Other than where defined, capitalised terms used in this
announcement have the meanings given to them in the Company's
announcement of 23 November 2022.
For further information, please contact:
Zanaga Iron Ore Company Limited
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
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END
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December 13, 2022 06:45 ET (11:45 GMT)
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