Asa Resources Regulatory News (ASA)

25 Apr 2007 07:01

Mwana Africa PLC25 April 2007 Dividend announcement by Bindura Nickel Corporation and Appointment of New Managing Director London, 25th April 2007 - Mwana Africa plc ("Mwana") has been informed byBindura Nickel Corporation Limited ("BNC"), in which it is a 52.87% shareholder,that it has declared a fourth interim dividend of Zim$20 per share. The dividend is payable to ordinary shareholders of BNC registered at the closeof business on 4 May 2007. The total dividend is expected to equate toUS$10,086,000 (based on the current exchange rate of US$1=Zim$250). As a 52.87% shareholder in BNC, Mwana expects to receive, on or about 17 May2007, a dividend of approximately US$5,330,000 (based on the current exchangerate of US$1=Zim$250) before a deduction of 5% withholding tax. Mwana has received three earlier interim dividends from BNC, totalling US$8,000,000 before a deduction of 5% withholding tax. Appointment of New Managing Director Mwana Africa is also pleased to announce the appointment of David EH Murangarias Managing Director of BNC with the effect from the 1st of May. David joins BNC from the Chamber of Mines of Zimbabwe, where he was the ChiefExecutive Officer since 1999. Prior to that, he was Managing Director ofTrillion Zimbabwe, a position he assumed after a long career in the Governmentof Zimbabwe where he started off as Regional Geologist for Harare MiningDistrict in 1980 and rose to the post of Secretary for Mines when he retiredfrom civil service by 1997. David is a member of boards of directors of ZISCO, Mining Industry Pension Fundand Zimbabwe Power Company. -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