Last checked at 21 Nov 2011 07:00
21 November 2011
ZANAGA IRON ORE COMPANY LIMITED
Extension of shareholder lock-ups
On 31 October 2011, Zanaga Iron Ore Company Limited (AIM:ZIOC) announced the commencement of a process to identify a party to become a strategic partner in the development of the Zanaga Iron Ore Project in the Republic of Congo. The process is being conducted jointly by Xstrata and ZIOC. However, Xstrata intends to fully retain its interest in the Zanaga Iron Ore Project.
ZIOC is pleased to announce that, with a view to facilitating the process, Garbet Limited, Guava Minerals Limited, Michael Haworth and Clifford Elphick have agreed to extend their respective existing lock-ups. Garbet Limited has a direct interest in approximately 41.25 per cent. of ZIOC's issued shares. Guava Minerals Limited has a direct interest in approximately 31.64 per cent. of ZIOC's issued shares.
Subject to an option for Garbet Limited and Guava Minerals Limited (acting jointly) to terminate the lock-ups on 31 January 2012, the lock-ups will be extended until 16 April 2012.
For further information please contact:
Zanaga UK Services Limited
Corporate Development and Andrew TraharInvestor Relations Manager +44 20 7399 1105
Liberum Capital Limited
Nominated Adviser, Financial Chris Bowman, Christopher BrittonAdviser and Joint Corporate Broker and Christopher Kololian
+44 20 3100 2000
Citigroup Global Markets Limited
Joint Corporate Broker Alex Carter
+44 20 7986 4000
Pelham Bell Pottinger
Financial PR James MacFarlane and Philippe Polman
+44 20 7861 3232
About us:
Zanaga Iron Ore Company Limited (AIM:ZIOC) is a BVI registered Company and the owner of 50% less one share interest in the Zanaga Iron Ore Project based in the Republic of Congo (Congo Brazzaville) through its joint venture partnership with Xstrata. The Zanaga Project is focused on the management, development and construction of a world-class iron ore mine and related, processing, transportationand port infrastructure.