KIW Kiwara

 

TIDMKIW 
 
RNS Number : 9874U 
Kiwara PLC 
02 July 2009 
 

JSE - KWR 
 
 
AIM - KIW 
 
 
ISIN - GB0007702953 
 
 
2nd July 2009 
 
 
Kiwara plc 
 
 
("Kiwara" or the "Company") 
 
 
Kiwara and International Finance Corporation finalise initial US $6 Million 
Equity Subscription 
 
 
The Board of Kiwara plc is pleased to announce that the contemplated equity 
subscription announced on 29th April 2009, to be made by the International 
Finance Corporation ("IFC"), has been finalised, subject only to Kiwara 
shareholder approval. 
The key features of the subscription are: 
  *  An initial strategic equity subscription of US $6.0 million (GBP3.6 million) 
  with a three year warrant package; 
  *  Total equity investment package of up to US $15.0 million; 
  *  Investment by IFC provides Kiwara with a highly credible strategic investor 
  necessary for the progression of the Company's rapidly emerging base metals 
  projects in an environmentally and socially sustainable manner; 
  *  The initial subscription allows Kiwara to extend and consolidate the Kalumbila 
  copper project and to extend strike and infill drilling at Kawako where 
  exceptional nickel sulphide values have been reported. 
 
 
 
The Subscription 
On 29th April 2009 the Company reported that the IFC had disclosed its 
intention, subject to board approval, to purchase equity to value of US $6 
million. The price as determined at that time was the fifteen day moving 
weighted average price, which at the time of the disclosure was 18.697p per 
share. The warrant package consists of one full warrant per ordinary share 
purchased, and is valid for three years from completion and is struck at a price 
of 37p, which is double the initial investment price. 
The initial subscription will result in the issue of approximately 19.5 million 
shares; the actual number of such shares being determined by the prevailing US 
Dollar - Sterling exchange rate upon the subscription date. The IFC will have 
the option to purchase the same number of shares within the three year period at 
37p per share. 
This subscription is subject to approval by Kiwara shareholders, for which an 
EGM will be called; the subscription date will be within 5 business days of 
shareholder approval. 
 
 
Colin Bird (Chairman) said "We are naturally delighted that the IFC have taken 
such a significant stake in our rapidly developing Zambian focused base metals 
company. The investment will form the core of the funds to consolidate our 
Kalumbila copper deposit and investigate the size potential of our Kawako nickel 
discovery. We look forward to working with the IFC." 
Saleem Karimjee, IFC Country Manager for Southern Africa said "IFC's investment 
in Kiwara demonstrates our commitment to supporting projects in regions where 
economic growth is most needed and that are environmentally and socially 
sustainable. IFC's investment and Kiwara's potential participation in IFC's 
program to support small and medium enterprises linked to mining is the start of 
a partnership will increase economic growth and create more opportunities for 
Zambians." 
 
 
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)20 7581 4477 
Colin Bird, Chairman 
 
 
Peter Vivian-Neal, Chief Executive Officer    Tel: +260 (0) 211 293899 
 
 
Sasfin Capital, Johannesburg 
Brian Christie, Corporate Finance             Tel: +27 (0) 11 809 7511 
 
 
FinnCap, London 
Matthew Robinson, Corporate FinanceTel: +44 (0)20 7600 1658 
 
 
 
 
Bishopsgate Communications Ltd 
Suzanna Johnston-Walsh                      Tel: +44 (0)20 7562 3359 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCSSISAESUSEEW 
 

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