Business
Results of General Meeting and Board Appointments
Results of General Meeting and Board Appointments.
About this update from Zanaga Iron Ore Co. Ltd.
[{"type":"text","content":"\n \n \n \n 13 December 2022\n \n \n \n \n Results of General Meeting and Board Appointments\n \n \n \n Zanaga Iron Ore Company Limited (\"Zanaga\" or the \"Company\") (AIM: ZIOC) announces that, further to the Company's announcements on 23 November 2022 and 25 November 2022 regarding the Company's proposed acquisition of all of Glencore Projects Pty Limited's (\"Glencore Projects\") 50% plus one share interest in Jumelles Limited, all resolutions were duly passed at the General Meeting of the Company held earlier today.\n \n \n It is anticipated that Completion of the Acquisition will occur on 16 December 2022 and the Company will make a further announcement upon Completion. Completion is conditional upon (amongst other matters) Admission of the Consideration Shares, expected on 16 December 2022, entry into certain transaction documents by various parties, and other matters which are customary for an acquisition of this nature. In addition to the conditions, each of the parties has limited termination rights prior to Completion including for breach of warranty and for breach of the Sale and Purchase Agreement. The long stop date for Completion is 31 December 2022.\n \n \n Effective from Completion, the Company will appoint Peter Hill and Denis Weinstein to the board of the Company, following their nomination by Glencore. \n \n \n \n Biography of Peter Hill\n \n \n \n Peter is Head of Iron Ore Marketing at Glencore International AG. Peter brings over 14 years' experience in the mining sector, having joined Glencore in 2009 and was previously at BHP Billiton.\n \n \n \n Biography of Denis Weinstein\n \n \n \n Denis is a trader in Glencore International AG's Iron Ore Marketing team. Denis rejoined Glencore in 2022, having previously been with the company from 2012 to 2020.\n \n \n \n Clifford Elphick, Non-Executive Chairman of ZIOC, commented:\n \n \n \n \"I am pleased to report that the proposed acquisition of Glencore Projects' shareholding in the\n Project has received 100% votes in favour at today's general meeting. The transaction is expected to complete this Friday 16 December\".\n \n \n Disclosure required pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for Companies\n \n The names of all companies and partnerships of which Peter Edward Montague Hill, aged 37, has been a director or partner at any time in the pr...