19th Jun 2008 16:14
THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR NEW ZEALAND OR ANY JURISDICTION IN WHICH SUCH PUBLICATION RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.
Neither this announcement nor any part of it constitutes an offer to sell or issue or the solicitation of an offer to buy, subscribe or acquire any new Ordinary Shares in any jurisdiction in which any such offer or solicitation would be unlawful and the information contained herein is not for publication or distribution, directly or indirectly, in or into the United States, Canada, Australia, Japan, the Republic of South Africa or New Zealand or any jurisdiction in which such publication or distribution would be unlawful.
Mwana Africa plc
("Mwana Africa" or the "Company")
19 June 2008
Result of Cash Placing
(the "Placing")
Mwana Africa announces that a total of 62,500,000 new ordinary shares of the Company (the "Placing Shares") have been successfully placed by JPMorgan Cazenove and Canaccord Adams Ltd (co-managers) at a price of 40.0 pence per Placing Share, raising £25.0 million before expenses.
Commenting on the successful placing, Kalaa Mpinga, Chief Executive Officer of Mwana Africa, said:
"Mwana Africa has an exciting portfolio of resource opportunities and operations, across a range of commodities, and from exploration prospects to operating assets. Today's successful placing positions us to continue to enhance the long term value of our existing operations, to maintain development of our key projects, and to build on the promising exploration work performed to date."
The Placing Shares will be credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares in the share capital of Mwana Africa, including the right to receive all dividends and other distributions declared, made or paid after the date of their issue.
Application has been made for, and the Placing is conditional on, inter alia, admission of the Placing Shares to trading on AIM ("Admission"). It is expected that settlement will occur, Admission will become effective and dealings in the Placing Shares will commence at 8.00 a.m. on 25 June 2008.
Following Admission of the Placing Shares, Mwana Africa's issued share capital will consist of 400,433,819 ordinary shares of 10p each. Of the 400,433,819 ordinary shares in issue, 2,666,600 ordinary shares are currently held by Mwana Africa in treasury (to which no voting rights may be exercised) pursuant to the buyback programme effected by Mwana Africa. As such, the total number of ordinary shares in Mwana Africa to which voting rights are attached on the basis of one vote per ordinary share held is 397,767,219.
The above total voting rights figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interests in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules.
Enquiries:
|
Mwana Africa plc Oliver Baring - Executive Chairman Kalaa Mpinga - Chief Executive Officer Peter Sydney-Smith- Finance Director |
Tel: +44 (0)20 7654 5580 |
|
JPMorgan Cazenove Ian Hannam Neil Passmore |
Tel: +44 (0)20 7588 2828 |
|
Canaccord Adams Mike Jones Andrew Chubb |
Tel: +44 (0)20 7050 6500 |
|
Merlin David Simonson Tom Randell |
Tel: +44 (0)20 7653 6620 |
This announcement has been issued by, and is the sole responsibility of Mwana Africa plc.
JPMorgan Cazenove Limited and Canaccord Adams Limited are acting for the Company and no one else in connection with the Placing and will not be responsible to any other person for providing the protections afforded to their clients, or for providing advice in relation to the Placing and/or any other matter referred to in this announcement.
This announcement is for information purposes only and does not constitute an offer to sell or issue or the solicitation of an offer to buy, subscribe or acquire any securities in any jurisdiction. This announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy, subscribe or acquire any securities in the capital of Mwana Africa in the United States, Canada, Australia, Japan, the Republic of South Africa or New Zealand or any jurisdiction in which such offer or solicitation would be unlawful and should not be relied on in connection with any decision to acquire the Placing Shares or any other securities in the capital of Mwana Africa.
The information contained in this announcement is not for publication or distribution, directly or indirectly, in or into the United States, Canada, Australia, Japan, the Republic of South Africa or New Zealand or any jurisdiction in which such publication or distribution would be unlawful.
The securities referred to herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States (as such term is defined in Regulation S under the Securities Act) unless they are registered under the Securities Act or pursuant to an exemption from registration. No public offer of the Placing Shares is being made in the United States.
Related Shares:
Asa Resources