Business
Result of Placing, Subscription and Retail Offer
Zanaga Iron Ore Company Limited has successfully raised a total of £5.7 million (approximately US$7.7 million) before expenses through the issue of new ordinary shares at 4 pence per share. This capital raising includes a £5.6 million placing and subscription, which was upsized due to strong investor demand, and an additional £91,818 from a retail offer. Furthermore, directors converted US$888,134 of deferred fees into 16,426,241 new ordinary shares, and the CEO purchased shares for US$270,000, all at the same issue price. The total enlarged share capital will be 991,101,694 ordinary shares, with admission expected on May 22, 2026. Disclaimer*
About this update from Zanaga Iron Ore Co. Ltd.
THIS ANNOUNCEMENT (INCLUDING THE APPENDICES) AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES, AND THE DISTRICT OF COLUMBIA) (THE "UNITED STATES"), CANADA, AUSTRALIA, NEW ZEALAND, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH DISTRIBUTION WOULD BE UNLAWFUL. ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSITUTE A VIOLATION OF APPLICABLE SECURITIES LAWS. THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM PART OF AN OFFER TO UNDERWRITE, BUY, SUBSCRIBE, SELL OR ISSUE, OR A SOLICITATION OF AN OFFER TO BUY OR SUBSCRIBE FOR THE SECURITIES REFERRED TO HEREIN OR ANY OTHER SECURITY IN THE UNITES STATES OR IN ANY OTHER JURISDICTION IN WHICH, OR TO ANY PERSONS TO WHOM, SUCH OFFERING, SOLICITATION OR SALE WOULD BE UNLAWFUL OR REQUIRE REGISTRATION. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM BY VIRTUE OF THE EU (WITHDRAWAL) ACT 2018 ("MAR"). 15 May 2026 Zanaga Iron Ore Company Limited ("ZIOC" or the "Company") Result of Placing, Subscription and Retail Offer Zanaga Iron Ore Company Limited (AIM: ZIOC) is pleased to announce that, following the announcement made yesterday (the "Launch Announcement") regarding the launch of the proposed Capital Raising and associated Retail Offer, it has successfully raised an aggregate of £5.6 million (approximately US$7.6 million) before expenses through the issue of 140,000,000 new ordinary shares at an issue price of 4 pence per Ordinary Share (the "Issue Price") pursuant to the Placing and Subscription. Due to strong institutional investor demand, the Company has agreed with the Joint Bookrunners to increase the size of the Capital Raising from the approximately US$5.6million originally proposed (the "Upsize"). Additional proceeds from the Upsize will be used to provide additional working capital headroom and further ability to accelerate various workstreams in relation to the Zanaga Project. An additional £91,818 (approximately US$$124,111) has been raised before expenses through the issue of 2,295,459 new ordinary shares at the Issue Pri...
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