Business
Repayment of Glencore loan
Repayment of Glencore loan.
About this update from Zanaga Iron Ore Co. Ltd.
[{"type":"text","content":"\n\n18 July 2024 \n \nRepayment of Glencore loan\n \nZanaga Iron Ore Company (\"ZIOC\" or the \"Company\") (AIM:ZIOC) is pleased to announce that, following the completion of the block sale of ZIOC shares by Shard Merchant Capital Ltd (\"SMC\") and share subscriptions by Glencore and Mr Clifford Elphick (Non-Executive Chairman of ZIOC), the Company has repaid the entirety of its loan to Glencore.\n \nThe Company is now debt free, which is a positive step in enabling the advancement of further discussions with potential strategic partners.\n \nClifford Elphick, Chairman of ZIOC commented:\n\"Following today's repayment of Glencore's loan I am delighted to inform shareholders that ZIOC is debt free. This is key to supporting management's engagement with strategic partners, and I look forward to the management team progressing the next phase of this initiative.\"\n \nThe Zanaga Iron Ore Company Limited LEI number is 21380085XNXEX6NL6L23.\n \nFor further information, please contact:\n \nZanaga Iron Ore\nCorporate Development and Andrew Trahar\nInvestor Relations Manager +44 20 7399 1105\nPanmure Liberum Capital Limited\nNominated Adviser, Financial Scott Mathieson, John More\nAdviser and Corporate Broker +44 20 3100 2000\nShard Capital Partners LLP\nCorporate Broker Damon Heath\n &n...