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Kavango Resources - CLN Conversion and Block Listing Application

RNS Number : 1918J
Kavango Resources PLC
18 December 2020

Press Release

18 December 2020

 Kavango Resources plc

("Kavango" or "the Company")

 Conversion of Convertible Loan Notes and Block Listing Application


Conversion of Convertible Loan Notes


Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce that further to the announcements made on 15 April 2020, the Company has settled the principal amount of the £212,487 unsecured convertible loan notes and accrued interest (the "Notes") by converting the Notes into 28,358,282 new ordinary shares of 0.1 pence each ("Ordinary Shares") in the Company (the "Conversion Shares").


Application will be made to the Financial Conduct Authority ("FCA") for the Conversion Shares to be admitted to the Standard List segment of the Official List of the FCA and to trading on the main market ("Main Market") of the London Stock Exchange ("Admission").  It is expected that Admission will become effective and that dealings in the Conversion Shares will commence at 8.00am on or around 8 January 2021.


Following Admission, the total issued share capital of the Company will consist of 295,291,264 Ordinary Shares. Therefore, the total number of voting rights in the Company is 295,291,264 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest, in the share capital of the Company. 


Block Listing Application

The Company also announces that application has been made to the FCA and to the London Stock Exchange for 57,310,875 Ordinary Shares in the capital of the Company (the "Block Listing Shares") to be admitted to the Standard list segment of the Official List of the FCA and to trading on the Main Market using a block listing (the "Block Listing Admission").

 The Block Listing Shares will, upon issue, rank equally with all other Ordinary Shares of 0.1 pence each in the capital of the Company that are then in issue.

 The Block Listing Shares will be issued by the Company from time to time under the terms of the "A" warrants of the Company.

 Subject to approval by the FCA, the Block Listing Admission is expected to become effective on 7 January 2021.

 This notification is provided in accordance with paragraph 3.3.5R of the Listing Rules.


 For further information please contact:

 Michael Foster - Mfoster@kavangoresources.com

 Chuck Forrest - Cforrest@kavangoresources.com



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