Caledonia Mining Crp - Caledonia increases shareholding in Blanket to 64%
Caledonia increases its shareholding in
(NYSE AMERICAN: CMCL; AIM: CMCL; TSX: CAL)
· Today's announcement marks the completion of the transaction first announced on
· The purchase of Fremiro's 15 per cent holding means Caledonia's shareholding in Blanket is now 64 per cent.
· Gross consideration for Fremiro's shareholding in Blanket is
· Fremiro will now hold approximately 6.3 per cent of Caledonia's enlarged issued share capital.
Commenting on the transaction,
"I am pleased to report that the Company has concluded its transaction with Fremiro to increase Caledonia's shareholding in Blanket to 64 per cent. I would like to thank Fremiro for its support as a shareholder in Blanket during the last seven years and am confident that Fremiro, now as a significant shareholder in the Company, will continue to be supportive of Caledonia's business going forward."
Fremiro acquired its shareholding in Blanket when Caledonia implemented transactions in 2012 to comply with the Zimbabwean Indigenisation and Economic Empowerment Act (the "Act"). As part of the transactions, Caledonia sold 41 per cent of Blanket to the following indigenous Zimbabwean shareholders:
· Fremiro:15 per cent
The financing of these acquisitions was facilitated through approximately
In addition, 10 per cent of Blanket was donated to the local community in the form of the
Per the Company's announcement of
For further information please contact:
| || |
Tel: +44 1534 679 800
Tel: +44 759 078 1139
WH Ireland (Nomad & Broker)
Tel: +44 20 7220 1751
Tel: +44 207 138 3204
Tel: +1 917 991 7701
Tel: +1 203 940 2538
The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.
This information is provided by RNS, the news service of the
Quick facts: Caledonia Mining Corporation PLC
Market Cap: £151.79 m
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