Zanaga executes share lock-in agreements with major shareholders
Aim-listed Zanaga Iron Ore Company (ZIOC) has announced that, following a request from a potential investor engaged in ZIOC's strategic partner process, lock-in agreements have been signed between the company and a number of its significant shareholders, holding about 34.86% of the company's issued share capital.
Details of the arrangements include a fully restricted lock-in type and a lock-in period of six months until February 26, 2026.
Guava Minerals, owning 9.6% of the company's issued share capital, is a shareholder subject to this agreement. The company explains that ZIOC chairperson Clifford Elphick continues to be a potential beneficiary of a discretionary trust that has an interest in Guava Minerals.
Greymont Bay Consortium is also a shareholder subject to this arrangement, where Greymont Bay I owns 18.28% of the company's issued share capital and Regatta HCRP I LP owns 6.98% of the company's issued share capital.
ZIOC is an iron-ore exploration and development company. Its flagship asset is the 100%-owned Zanaga project, in Congo-Brazzaville.
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