Zinnwald Lithium PLC Statement re Bacanora Lithium Rule 2.7 (7914J)
25 Agosto 2021 - 9:06AM
UK Regulatory
TIDMZNWD
RNS Number : 7914J
Zinnwald Lithium PLC
25 August 2021
Zinnwald Lithium plc
("Zinnwald Lithium" or the "Company")
Statement re Bacanora Lithium Rule 2.7 announcement
The Zinnwald Board notes today's Rule 2.7 announcement by
Bacanora Lithium plc ("Bacanora") and Ganfeng International Trading
(Shanghai) Limited ("Ganfeng") regarding the recommended cash offer
by Ganfeng for the entire issued and to be issued share capital of
Bacanora, other than that which Ganfeng already owns (the "Offer").
The independent directors of Bacanora intend to make a distribution
in specie of the shares held by Bacanora in Zinnwald to Bacanora's
shareholders, including Ganfeng, subject to the Offer becoming or
being declared unconditional in all respects (the "Distribution").
Bacanora currently holds 35.5 per cent. of Zinnwald's issued share
capital.
The Offer and the Distribution are subject to a number of
conditions as detailed in the aforementioned Rule 2.7 announcement.
Zinnwald looks forward to working with potential new shareholders
going forward and continues to focus on advancing its wholly owned
Zinnwald Lithium Project.
For further information contact:
Anton du Plessis Zinnwald Lithium plc info@zinnwaldlithium.com
Allenby Capital Limited
David Hart/Liz Kirchner (Nominated Adviser) +44 (0) 20 3328 5656
Turner Pope Investments
James Pope/Andy (TPI) Ltd
Thacker (Broker) +44 (0) 20 3657 0050
Isabel de Salis/Frank St Brides Partners info@stbridespartners.co.uk
Buhagiar (Financial PR)
Notes
Zinnwald Lithium plc (EPIC: ZNWD.L) is an AIM quoted, German
focused lithium development company focussed on becoming an
important supplier to Europe's fast-growing battery sector. The
Company owns the Zinnwald Lithium Project in Germany, a late-stage
development project with attractive economics and approved mining
licence. A Feasibility Study, published in June 2019, highlighted a
EUR428m pre-tax NPV, a pre-tax IRR of 27.4% and a 46% EBITDA margin
for Zinnwald. The project is located in the heart of Europe's
chemical and automotive industries and has the potential to be one
of Europe's most advanced battery grade lithium projects.
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END
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