26th Apr 2006 16:24
Mwana Africa PLC26 April 2006 THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR NEW ZEALAND Mwana Africa plc ("Mwana Africa" or the "Company") 26 April 2006 Result of Cash Placing (the "Placing") Mwana Africa announces that a total of 66,900,000 new ordinary shares of theCompany (the "Placing Shares") have been successfully placed by JPMorganCazenove (the Sole Bookrunner) and Canaccord Adams Ltd (Co-manager) at a priceof 63.0 pence per Placing Share, raising £42.1 million before expenses. Commenting on the successful placing, Kalaa Mpinga, Chief Executive Officer of Mwana Africa, said: "Today's placing is consistent with our stated strategy of developing into amajor resource group on the African continent. Against the background of veryhealthy global commodity markets, it will afford us the flexibility andnegotiating strength we need to take advantage of several attractive potentialacquisition opportunities." 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 2 May 2006. Enquiries: Mwana Africa plc Tel: +44 (0)20 7654 5581Oliver Baring - Executive ChairmanKalaa Mpinga - Chief Executive Officer JPMorgan Cazenove Tel: +44 (0)20 7588 2828Ian HannamNeil Passmore Canaccord Adams Tel: +44 (0)20 7518 7365Mike JonesRyan Gaffney Merlin Tel: +44 (0)20 7653 6620David SimonsonTom Randell This announcement has been issued by, and is the sole responsibility of MwanaAfrica plc. JPMorgan Cazenove Limited is acting for the Company and no one else inconnection with the Placing and will not be responsible to any other person forproviding the protections afforded to its clients, or for providing advice inrelation to the Placing and/or any other matter referred to in thisannouncement. This announcement is for information purposes only and does not constitute anoffer to sell or issue or the solicitation of an offer to buy, subscribe oracquire any securities in any jurisdiction. This announcement does notconstitute 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 UnitedStates, Canada, Australia, Japan or New Zealand or any jurisdiction in whichsuch offer or solicitation would be unlawful and should not be relied on inconnection with any decision to acquire the Placing Shares or any othersecurities in the capital of Mwana Africa. The information contained in this announcement is not for publication ordistribution, directly or indirectly, in or into the United States, Canada,Australia, Japan or New Zealand or any jurisdiction in which such publication ordistribution would be unlawful. The securities referred to herein have not been, and will not be, registeredunder the U.S. Securities Act of 1933, as amended (the "Securities Act"), andmay not be offered or sold in the United States (as such term is defined inRegulation S under the Securities Act) unless they are registered under theSecurities Act or pursuant to an exemption from registration. No public offer ofthe Placing Shares is being made in the United States. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Asa Resources