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RNS Number : 8440W Zanaga Iron Ore Company Ltd 18 July 2024
18 July 2024
Repayment of Glencore loan
Zanaga Iron Ore Company ("ZIOC" or the "Company") (AIM:ZIOC) is pleased to
announce that, following the completion of the block sale of ZIOC shares by
Shard Merchant Capital Ltd ("SMC") and share subscriptions by Glencore and Mr
Clifford Elphick (Non-Executive Chairman of ZIOC), the Company has repaid the
entirety of its loan to Glencore.
The Company is now debt free, which is a positive step in enabling the
advancement of further discussions with potential strategic partners.
Clifford Elphick, Chairman of ZIOC commented:
"Following today's repayment of Glencore's loan I am delighted to inform
shareholders that ZIOC is debt free. This is key to supporting management's
engagement with strategic partners, and I look forward to the management team
progressing the next phase of this initiative."
The Zanaga Iron Ore Company Limited LEI number is 21380085XNXEX6NL6L23.
For further information, please contact:
Zanaga Iron Ore
Corporate Development and
Andrew Trahar
Investor Relations Manager
+44 20 7399 1105
Panmure Liberum Capital Limited
Nominated Adviser, Financial
Scott Mathieson, John More
Adviser and Corporate Broker +44
20 3100 2000
Shard Capital Partners LLP
Corporate
Broker
Damon Heath
+44 207 186 9952
______________________________________________
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW
BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"), AND IS
DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF
MAR
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