Last checked at 8 Mar 2021 12:36
Armadale Capital Plc / Index: AIM / Epic: ACP / Sector: Investment Company
8 March 2021
Armadale Capital Plc
('Armadale' or 'the Company')
Notification of Changes in Major Holdings
Armadale Capital plc the AIM quoted investment group focused on natural resource projects in Africa, notifies shareholders that it was only recently informed that Kabunga Holdings Pty Ltd ("Kabunga"), a substantial shareholder in the Company, has between October 2019 and 26 February 2021, sold in total 34,755,554 ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary Shares"), leaving Kabunga with a remaining holding of 19,860,417 Ordinary Shares, or 4.19 per cent. of the total voting rights of the Company.
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
**ENDS**
Enquiries: | |
Armadale Capital Plc Nick Johansen, Non-Executive Director Tim Jones, Company Secretary
| +44 (0) 20 7236 1177 |
Nomad and Broker: finnCap Ltd Christopher Raggett / Teddy Whiley
| +44 (0) 20 7220 0500 |
Joint Broker: SI Capital Ltd Nick Emerson
| +44 (0) 1483 413500 |
Notes
Armadale Capital Plc is focused on investing in and developing a portfolio of investments, targeting the natural resources and/or infrastructure sectors in Africa. The Company, led by a team with operational experience and a strong track record in Africa, has a strategy of identifying high growth businesses where it can take an active role in their advancement.
The Company owns the Mahenge Liandu graphite project in south-east Tanzania, which is now its main focus. The Project is located in a highly prospective region with a high-grade JORC compliant Indicated and inferred mineral resource estimate of 59.48Mt @ 9.8% TGC, making it one of the largest high-grade resources in Tanzania, and work to date has demonstrated Mahenge Liandu's potential as a commercially viable deposit with significant tonnage, high-grade coarse flake and near surface mineralisation (implying a low strip ratio) contained within one contiguous ore body.
Other assets Armadale has an interest in, include the Mpokoto Gold project in the Democratic Republic of Congo and a portfolio of quoted investments.
More information can be found on the website www.armadalecapitalplc.com.