Result of General Meeting

Kazera Global PLC

25 September 2024

 

25 September 2024

Kazera Global plc

('Kazera' or 'the Company)

Result of General Meeting

Kazera Global plc, the AIM-quoted investment company, announces that at its General Meeting held today, 25 September 2024, both resolutions were duly passed on a show of hands.

The passing of the resolutions enables the Company to finalise the purchase of Tectonic Gold PLC's ("Tectonic") 10% shareholdings in both Deep Blue Minerals (Pty) Ltd ("DBM") and Whale Head Minerals (Pty) Ltd ("WHM"), along with Tectonic's economic interest in loans it has with WHM's Black Economic Empowerment partners, as detailed in the Company's RNS dated 7 August 2024, which increases Kazera's beneficial interest in WHM to 70% and in DBM to 74%. It also enables the Company to meet the obligations of its loan agreements with Richard Jennings and Tracarta Limited, as announced on 9 August 2024.

The full text of all the resolutions can be found in the Notice of General Meeting, dated 4 September 2024, a copy of which is available on the Company's website at:

https://kazeraglobal.com/admission-documents-circulars/

The table below shows the votes rights represented at the General Meeting including proxy votes received.

Resolution	Votes For*	%	Votes Against	%	No. Votes Cast	Votes Withheld**
1	217,651,482	99.61	845,514	0.39	218,496,996	-
2	217,850,901	99.70	646,095	0.30	218,496,996	-

^* Includes discretionary votes

^**A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes "For" or "Against" any of the resolutions

For further information visit www.kazeraglobal.com. or contact: 

Kazera Global plc Dennis Edmonds, CEO	[e-mail]
Cavendish Capital Markets Ltd (Nominated Adviser and Broker)    Derrick Lee / Pearl Kellie (Corporate Finance)	Tel: [phone]
St Brides Partners (Financial PR)    Paul Dulieu / Isabel de Salis	[e-mail]

ENDS

About Kazera Global plc

Kazera is a global investment company focused on leveraging the skills and expertise of its Board of Directors to develop early-stage mineral exploration and development assets towards meaningful cashflow and production. Its three principal investments are as follows:

Alluvial diamond mining through Deep Blue Minerals (Pty) Ltd, Alexander Bay, South Africa

Kazera currently has a 100% direct interest in Deep Blue Minerals, of which 74% is held beneficially by Kazera and 26% is held on behalf of Black Economic Empowerment partners.

Heavy Mineral Sands mining (including ilmenite, monazite, rutile, and zircon) through Whale Head Minerals (Pty) Ltd, Alexander Bay, South Africa.

Kazera currently has a 70% direct beneficial interest in Whale Head Minerals together with the benefit of a loan facility entitling it to receive approximately £38m out of dividends from the other shareholders.

Tantalite mining in South-East Namibia (divestment in progress)

As announced on 20 December 2022, Kazera has agreed to dispose of African Tantalum (Pty) Ltd ("Aftan") for a cash consideration of US$13 million plus a debenture payment of 2.5% of the gross sales of produced lithium and tantalum for life-of-mine. Completion of the sale is subject to receipt of full consideration proceeds. Aftan has been deconsolidated from the Company's financial statements with effect from 4 January 2023 because in accordance with the terms of the sale agreement, it has relinquished control of the Aftan in favour of the purchaser, Hebei Xinjian Construction Close Corp ("Hebei Xinjian") with effect from that date. Kazera retains the right to cancel the transaction and retain all amounts paid to date in the event of default by Hebei Xinjian.

The Company will consider additional investment opportunities as appropriate, having regard to the Group's future cash flow requirements.

 

END