| Tue 13 Jan 2009, 9:00 | | KWR - Kiwara - Issue of shares |
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KWR
KWR
KWR - Kiwara - Issue of shares
Kiwara plc
Share codes: JSE - KWR
AIM - KIW
ISIN - GB0007702953
(`Kiwara" or the "Company`)
Issue of shares
Following New Africa Mining Fund`s ("NAMF") agreement to swap its 25% interest
in Kiwara Zambia Ltd ("Kiwara Zambia") for 8,880,796 Kiwara ordinary shares of
GBP0.01 each, the Company is pleased to announce that South African Reserve Bank
approval has now been granted to complete this transaction.
Upon issue of the newly allotted shares to NAMF, Kiwara will hold a 100%
interest in its subsidiary Kiwara Zambia which currently holds 75% of the issued
share capital of Kalumbila Minerals Ltd.
Application has been made to the London Stock Exchange and the JSE Limited for
8,880,796 new Ordinary Shares of GBP0.01 to be admitted to trading. Dealing is
expected to commence in these shares on 14 January 2009.
The total number of Kiwara Ordinary shares of 1p each outstanding following this
issue of shares will be 174,365,806. NAMF`s holding in Kiwara will increase to
13,880,796 ordinary shares representing 7.96% of the issued share capital of the
Company.
About Kiwara:
Kiwara is an exploration company with a focus on base metals in the Republic of
Zambia, which is a major copper producing country.
Kiwara, through its majority owned subsidiary, Kalumbila Minerals, holds
Prospecting Licence 267 which is within the Kabompo Dome in North Western
Zambia, a geologically complex antiformal feature, which contains a number of
base metal and uranium targets. This is within the area considered to be the
western extension of the Copperbelt, an increasingly significant mining area
that contains the recently developed Kansanshi and Lumwana copper mines.
For further information, please contact:
Kiwara Plc Tel: +44 (0)207 581 4477
Colin Bird, Chairman
Peter Vivian-Neal, Chief Executive Officer Tel: +260 (0) 211 293899
Investec Bank, Johannesburg
Robert Smith / Gavin Hall Tel: +27 (0) 11 286 7326
Investec Bank (UK) Limited Tel: +44 (0) 20 7597 5000
Gerard Kisbey-Green / Jan Bosch
Bishopsgate Communications Ltd Tel: +44 (0)20 7562 3366
Nick Rome
13 January 2008
Sponsor: Investec Bank Limited
Date: 13/01/2009 09:00:04 Produced by the JSE SENS Department.
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