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23 Aug 2011 16:16
23 August 2011
Mwana Africa PLC
("Mwana", the "Group" or the "Company")
Indigenisation and Economic Empowerment Legislation
Shareholders are advised that in a letter dated 19 August 2011, the Minister of Youth Development, Indigenisation and Empowerment informed Freda Rebecca Gold Mine that he had rejected the Indigenisation Plan submitted to him earlier in the year and directed that a revised plan which, in his view, complies with the legislation be re-submitted within a period of 14 days.
Discussions between management and the relevant authorities in this regard are on-going and shareholders will be advised of any developments.
Shareholders should note that several other companies from the mining, financial and industrial sectors in Zimbabwe, have received letters similar to the one received by Freda Rebecca.
Enquiries:
Mwana Africa PLC Tel: +44 (0)20 7654 5580
Donald McAlister / Lorenz Werndle
Nominated Adviser and Broker
Ambrian Partners Limited Tel: +44 (0) 20 7634 4700
Anthony Rowland / Jen Boorer
Joint Broker
XCAP Securities plc
Jon Belliss / John Grant / Parimal Kumar Tel: +44 (0)20 7101 7070
Public Relations
Merlin Tel: +44 (0)20 7726 8400
David Simonson / Anca Spiridon
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