Last checked at 1 Nov 2017 07:00
Zanaga Iron Ore Company Limited
Block Listing Application
Released: 1-November-2017
Source: RNS
Zanaga Iron Ore Company Limited
1 November 2017
Block Listing Application
Zanaga Iron Ore Company Limited (AIM ticker: ZIOC ) ("ZIOC" or the "Company") provides notification that a block listing application has been made to the London Stock Exchange for the admission to trading on AIM of up to 9,027,274 ordinary shares in the Company (the "Block Listing Shares").
The application for the admission of the Block Listing Shares relates to the maximum number of ordinary shares that could be issued as a result of the potential exercise of options granted as part of the share option incentive scheme, which was put in place in July 2014 and was announced on 30 July 2014 (the "Options"). The Options are in respect of the Block Listing Shares.
Block Listing Shares will be issued from time to time pursuant to the exercise of Options, which are exercisable up to 28 July 2024 and at 0.01 pence (one hundredth of one pence) per share, except for 1,600,000 Options which are exercisable at 18.50 pence per share. The monies raised will be used for general working capital purposes. The Company will update the total shares in issue on its website on a regular basis.
The Block Listing Shares, when issued, will be issued credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of the Company. It is expected that the block admission will become effective on 6 November 2017.
For further information, please contact:
Zanaga Iron Ore
Corporate Development and Andrew Trahar
Investor Relations Manager +44 20 7399 1105
Liberum Capital Limited
Nominated Adviser, Financial Neil Elliot and Richard Crawley
Adviser and Corporate Broker +44 20 3100 2000
About us:
Zanaga Iron Ore Company Limited (AIM ticker: ZIOC) is the owner of 50% less one share in the Zanaga Iron Ore Project based in the Republic of Congo (Congo Brazzaville) through its joint venture partnership with Glencore. The Zanaga Iron Ore Project is one of the largest iron ore deposits in Africa and has the potential to become a world-class iron ore producer.