Asa Resources Regulatory News (ASA)

31 Aug 2006 07:02

Mwana Africa PLC31 August 2006 Dividend announcement by Bindura Nickel Corporation London, 31st August 2006 - Mwana Africa plc ("Mwana") has been informed byBindura Nickel Corporation, in which it is a majority shareholder, that it hasdeclared an interim dividend. The dividend is for the six month period ending 30th June 2006, payable toordinary shareholders of Bindura Nickel Corporation registered at the close ofbusiness on 8 September 2006. The total dividend is expected to equate toUS$4,960,000 (based on the current exchange rate of US$1=Zim$250,000) and ispayable out of profits for this period. The dividend is approximately two timescovered based on the historical cost accounts of Bindura Nickel Corporation. As a 52.87% shareholder in Bindura Nickel Corporation, Mwana expects to receive,on or about 22 September 2006, a dividend of approximately US$2,620,000 (basedon the current exchange rate of US$1=Zim$250,000), before deduction of 5%withholding tax. Commenting on the announcement, Kalaa Mpinga, Chief Executive Officer of Mwanasaid: "Mwana has recently announced to the market a series of projects which have madeclear its focus on exploration and development. Today's announcement, togetherwith yesterday's full year results, also make it clear that Mwana does thisagainst the backdrop of strong positive cash flow from its production stageinterests." Correction of typographical error in announcement of final results yesterday Mwana would like to correct a typographical error which appeared in theannouncement of its final results, which was released yesterday. The"Administrative expenses" line item appearing under "GROSS PROFIT/(LOSS)" of the"Consolidated Profit and Loss account for the year ended 31 March 2006", shouldread "9,710", and not "9,990" as was stated. No other figures on the tablechange. -ENDS-Enquiries: Oliver Baring, Executive Chairman Tel: 020 7654 5588Kalaa Mpinga, CEOMwana Africa plc Tom Randell / Maria Suleymanova Tel: 020 7653 6620Merlin This information is provided by RNS The company news service from the London Stock Exchange