Central Asia Metals acquired the Sasa project in Macedonia

MINEX FORUM | November 6, 2017 | Views: 66

Central Asia Metals PLC (AIM: CAML) announces the completion of the acquisition of Lynx Resources Limited, owner of the Sasa zinc-lead mine in Macedonia. The Company’s Enlarged Share Capital has been admitted to trading on AIM.  

 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, the company notes.

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.

“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”, Nick Clarke, Executive Chairman, commented. 

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