Issue Of New Ordinary Shares
Kavango Resources plc is issuing 1,984,152 new ordinary shares at £0.01 per share, raising gross proceeds of USD 27,050 from six Pension Funds investing through the Comarton Managed Pension Funds Investments Consortium. This fifth tranche, expected around September 14, 2026, will bring the Consortium's total holding to 213,247,657 ordinary shares. Upon admission, the total number of ordinary shares in issue will be 4,558,531,619, with 987,073,078 of these also being secondary listed on the Victoria Falls Stock Exchange.
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Further to the announcements of 22 April 2025, 5 September 2025, 14 January 2026, 11 May 2026 and 7 August 2026, the Company is pleased to confirm that 1,984,152 new Ordinary Shares (the "New Ordinary Shares") are to be issued on or around 14 September 2026 to six Pension Funds (the "Funds"), who have invested in previous tranches under the Comarton Managed Pension Funds Investments Consortium ("Consortium") administered by Comarton Consultants (Private) Limited ATF ("Comarton").
Comarton has signing authority on behalf of the Consortium pursuant to the agreement dated 16 April 2025 (the "Agreement"). The New Ordinary Shares are to be issued to the Funds, at the issue price of £0.01 per Ordinary Share, raising gross proceeds of USD 27,050 before expenses, and with the US Dollar and British Pound conversion rate being the Bank of England daily spot rate on 25 August 2026 (£1 = $1.3633).
Upon admission of the New Ordinary Shares, this transaction, the fifth tranche in connection with the Agreement, will bring the combined Consortium holding to 213,247,657 Ordinary Shares, including those held by Comarton. In August 2026, the number of drawdown requests was further increased from five to a maximum of six, which should be drawn down before 31 January 2027.
Admission
Application will be made for the New Ordinary Shares to be first admitted to trading on the Main Market of the London Stock Exchange and then immediately transferred to Zimbabwe through a branch register control account, in order for such Ordinary Shares to be secondary listed on the Victoria Falls Stock Exchange ("VFEX") and directly traded in Zimbabwe.
Total Voting Rights
In accordance with DTR 5.6.1 of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules (the "DTRs"), the total number of Ordinary Shares in issue as at the date of admission of the new Ordinary Shares will be 4,558,531,619, of which 987,073,078 Ordinary Shares are secondary listed on the VFEX, with each Ordinary Share carrying the right to one vote.
The Company does not hold any shares in treasury. Therefore, the number of Ordinary Shares with voting rights will be 4,558,531,619. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the DTRs.
Information in respect of the Company and its business interests is provided on the Company's website at www.kavangoresources.com . For further information please contact:
Kavango Resources plc Non-Executive Chairman & Interim Chief Executive Officer Donald McAlister +44 7887 481228 SP Angel Corporate Finance LLP (Corporate Broker) Ewan Leggat ewan.leggat@spangel.co.uk +44 3470 0470 BlytheRay Ltd (Financial PR) Megan Ray/Said Izagaren kavango@blytheray.com +44 207 138 3204 Inter-Horizon Group (Sponsoring Broker - Zimbabwe) Lloyd Mlotshwa lmlotshwa@ih-group.com Nurture Advisory (Pvt) Ltd (Arrangers - Zimbabwe) Zinzi Mlambo- Ziki zinzi.ziki@nurtureinvest.com
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.