Asa Resources Regulatory News (ASA)

14 May 2007 17:16

Mwana Africa PLC14 May 2007 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES Notice of Extraordinary General Meeting Authority to issue new ordinary shares Disapplication of statutory pre-emption provisions London, 14th of May 2007 - Mwana Africa PLC ("Mwana"), the pan-African resourcecompany, today posted to shareholders notice of an Extraordinary General Meetingto be held at the offices of Charles Russell LLP, 8-10 New Fetter Lane, LondonEC4A 1RS on Wednesday 6th June 2007 at 11a.m. An ordinary resolution will beproposed to authorise the Directors of Mwana to issue shares under Section 80 ofthe Companies Act 1985 and a special resolution will be proposed to empower thedirectors to allot ordinary shares and to disapply the pre-emption rightscontained in section 89(1). The Directors of Mwana intend to issue ordinary shares in connection with theproposed offer to acquire all of the outstanding shares of SouthernEra DiamondsInc. and the acquisition of Gravity Diamonds Limited. They also wish to maintainthe power to raise additional funding in a timely manner to take advantage ofany appropriate opportunities that may arise. Mwana has received irrevocable undertakings from Directors and certainshareholders (or their respective nominees), who hold in aggregate 102,864,698ordinary shares (representing 41.72% of the issued share capital, excludingtreasury shares), to vote in favour of the resolutions. The notice of the Extraordinary General Meeting and proxy form is now availableonline at www.mwanaafrica.com. Additional copies may be requested from theCompany and are available to the public, free of charge, at the Company'sregistered office, Devon House, 12-15 Dartmouth Street, London SW1H 9BL. Important Notice The proposed offer to acquire SouthernEra Diamonds Inc. (the "Offer") will notbe made to, nor will deposits of SouthernEra Common Shares be accepted from oron behalf of, U.S. persons or other holders of SouthernEra Common Shares in anyjurisdiction, including the United States, in which the making of the Offer orthe acceptance thereof would not be in compliance with the laws of suchjurisdiction or in which registration or other qualification of Mwana ordinaryshares to be issued in the Offer would be required by applicable laws of suchjurisdiction. Enquiries: Oliver Baring, Executive Chairman Tel: 020 7654 5588Mwana Africa plc Tom Randell / Maria Suleymanova Tel: 020 7653 6620Merlin Mark Williams Tel: 020 7050 6500Canaccord Adams Limited This information is provided by RNS The company news service from the London Stock Exchange