Central Asia Metals completes acquisition of Lynx Resources
Monday, Nov 06, 2017
Central Asia Metals PLC (AIM: CAML) is pleased to announce the completion of the acquisition of Lynx Resources Limited, owner of the Sasa zinc-lead mine in Macedonia (the "Acquisition"), and that the Company's Enlarged Share Capital has been admitted to trading on AIM ("Readmission").  
 
The Acquisition constitutes a "reverse takeover" under the AIM Rules for the Company and accordingly, the cancellation of CAML's Existing Ordinary Shares from trading on AIM and Readmission occurred simultaneously.
 
Following Readmission, the Company's total issued share capital comprises 176,498,266 ordinary shares (including the 15,278,528 Consideration Shares issued to Orion Co-Investments III L.P on Completion pursuant to the terms of the Acquisition). The Company has 511,647 ordinary shares held in treasury. Accordingly, the total number of voting rights in the Company's shares is 175,986,619 and therefore this figure may be used by the Company's shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
 
Nick Clarke, Executive Chairman, commented:

"CAML is now the owner of the Sasa zinc-lead mine in Macedonia, which means that our company is a newly diversified base metals producer. The low cost nature of Sasa complements our Kounrad operation and we look forward to our future with two long life and cash generative base metal operations in highly prospective jurisdictions. This should enable us to continue to reward our supportive shareholders with attractive returns."
 
All capitalised terms, unless otherwise defined, shall have the meanings ascribed to them in the Company's Admission Document dated 22 September 2017.

For more information, please visit:  https://www.centralasiametals.com/

Featured Profile

Featured Videos

Featured Case Studies