25 September 2024
Kazera
Global plc
('Kazera'
or 'the Company)
Result of
General Meeting
Kazera Global plc, the AIM-quoted
investment company, announces that at its General Meeting held
today, 25 September 2024, both resolutions were duly passed on a
show of hands.
The passing of the resolutions
enables the Company to finalise the purchase of Tectonic Gold PLC's
("Tectonic") 10% shareholdings in both Deep Blue Minerals (Pty) Ltd
("DBM") and Whale Head Minerals (Pty) Ltd ("WHM"), along with
Tectonic's economic interest in loans it has with WHM's Black
Economic Empowerment partners, as detailed in the Company's RNS
dated 7 August 2024, which increases Kazera's beneficial interest
in WHM to 70% and in DBM to 74%. It also enables the Company to
meet the obligations of its loan agreements with Richard Jennings
and Tracarta Limited, as announced on 9 August 2024.
The full text of all the resolutions
can be found in the Notice of General Meeting, dated 4 September
2024, a copy of which is available on the Company's website
at:
https://kazeraglobal.com/admission-documents-circulars/
The table below shows the votes
rights represented at the General Meeting including proxy votes
received.
|
Resolution
|
Votes For*
|
%
|
Votes
Against
|
%
|
No. Votes
Cast
|
Votes
Withheld**
|
|
1
|
217,651,482
|
99.61
|
845,514
|
0.39
|
218,496,996
|
-
|
|
2
|
217,850,901
|
99.70
|
646,095
|
0.30
|
218,496,996
|
-
|
* Includes discretionary votes
**A vote withheld is not a vote in law and is not counted in the
calculation of the proportion of votes "For" or "Against" any of
the resolutions
For further information
visit www.kazeraglobal.com. or
contact:
|
Kazera Global plc
Dennis Edmonds, CEO
|
kazera@stbridespartners.co.uk
|
|
Cavendish Capital Markets Ltd (Nominated Adviser and
Broker)
Derrick Lee / Pearl Kellie
(Corporate Finance)
|
Tel: +44 (0)207 220
0500
|
|
St
Brides Partners (Financial
PR)
Paul Dulieu / Isabel de Salis
|
kazera@stbridespartners.co.uk
|
ENDS
About Kazera Global plc
Kazera is a global investment
company focused on leveraging the skills and expertise of its Board
of Directors to develop early-stage mineral exploration and
development assets towards meaningful cashflow and production. Its
three principal investments are as follows:
Alluvial diamond mining through Deep
Blue Minerals (Pty) Ltd, Alexander Bay, South Africa
Kazera currently has a 100% direct
interest in Deep Blue Minerals, of which 74% is held beneficially
by Kazera and 26% is held on behalf of Black Economic Empowerment
partners.
Heavy Mineral Sands mining (including
ilmenite, monazite, rutile, and zircon) through Whale Head Minerals
(Pty) Ltd, Alexander Bay, South Africa.
Kazera currently has a 70% direct
beneficial interest in Whale Head Minerals together with the
benefit of a loan facility entitling it to receive approximately
£38m out of dividends from the other shareholders.
Tantalite mining in South-East
Namibia (divestment in progress)
As announced on 20 December 2022,
Kazera has agreed to dispose of African Tantalum (Pty) Ltd
("Aftan") for a cash consideration of US$13 million plus a
debenture payment of 2.5% of the gross sales of produced lithium
and tantalum for life-of-mine. Completion of the sale is subject to
receipt of full consideration proceeds. Aftan has been
deconsolidated from the Company's financial statements with effect
from 4 January 2023 because in accordance with the terms of the
sale agreement, it has relinquished control of the Aftan in favour
of the purchaser, Hebei Xinjian Construction Close Corp ("Hebei
Xinjian") with effect from that date. Kazera retains the right to
cancel the transaction and retain all amounts paid to date in the
event of default by Hebei Xinjian.
The Company will consider additional
investment opportunities as appropriate, having regard to the
Group's future cash flow requirements.
