Kavango Resourcs plc will issue 74,016,243 new ordinary shares to Comarton Consultants Ltd and nine pension funds, under the Comarton managed pension funds investments consortium.
TVRs
The consortium’s agent and administrator is Zimbabwe-registered Comarton.
Kavango said that the shares issue increased the total number of consortium pension funds invested in Kavango to 12.
On admission, the funds will have a combined holding of 143,380,910 ordinary shares, including the Comarton shares, representing 3.84% of the Kavango’s issued share capital.
Following admission, the company’s issued share capital will be 3,736,048,519, each with one vote.
Of the total, 444,589,978 ordinary shares are secondary listed on the Victoria Falls Stock Exchange.
Kavango holds no shares in treasury.
The company owns gold exploration, development and production interests in Zimbabwe and copper exploration licences in Botswana.