CGH "in specie" Distribution

Contango Holdings Plc / Index: LSE / Epic: CGO / Sector: Natural Resources

8 July 2022

Contango Holdings Plc

('Contango' or the 'Company')

 

CGH "in specie" Distribution

 

Contango Holdings Plc, the London listed natural resource company developing the Lubu Coking Coal Project in Zimbabwe ('Lubu') and the Garalo-Ntiela Gold Project in Mali ('Garalo-Ntiela'), has been advised by its largest shareholder, Consolidated Growth Holdings Limited ("CGH") that it intends to make an "in specie" distribution of its holding of 98,349,961 shares in the Company (a holding of 31.8%) to its shareholders.

 

CGH has circa 700 shareholders on its register from the period as a public company. CGH's 20 largest shareholders represent circa 70% of the current CGH shares in issue and will therefore hold 67,999,210 shares in the Company (circa 22% of the current issued share capital of Contango). The Company has consulted with these shareholders, many of whom have already joined the Contango share register through participation in capital raises and via on-market share purchases over the past two years. The Company expects these investors to remain supportive long-term shareholders in the Company.

 

Physical share certificates will be issued to the registered addresses of all CGH investors over the coming weeks. CGH shareholders will be responsible for notifying the Company in the event that their enlarged Contango shareholding exceeds 3% of the issued share capital of Contango when existing holdings are combined with the subsequent in specie distribution from CGH.

 

The total number of Contango shares in issue will remain unchanged as a result of this shareholder distribution.

 

**ENDS**

 

For further information, please visit www.contango-holdings-plc.co.uk or contact:

 

Contango Holdings plc Chief Executive Officer Carl Esprey	E: contango@stbridespartners.co.uk
Tavira Securities Limited Financial Adviser & Broker Jonathan Evans	T: +44 (0)20 7100 5100
St Brides Partners Ltd Financial PR & Investor Relations Susie Geliher / Charlotte Page	T: +44 (0)20 7236 1177