Caledonia Mining Increases Capital With 5,000 New ...

Caledonia Mining Increases Capital With 5,000 New Shares

Nyashadzashe Ndoro

Victoria Falls Stock Exchange listed, Caledonia Mining Corporation Pic has announced that a consultant to the company has exercised share options issued in 2017, resulting in the issue and allotment of 5,000 new common shares.

The share options were exercised at a price of US$7.35 per share, and the company has instructed the issue and allotment of the corresponding shares.

Application has been made for the depositary interests equivalent to the new shares to be admitted to trading on AIM, with trading expected to commence on July 10, 2024.

Following the issue of the new shares, Caledonia's total number of shares in issue will increase to 19,199,860 common shares of no par value each.

The company holds no shares in treasury, and therefore, this figure may be used by holders to determine their interest in the company.

"Application has been made by Caledonia for a number of depositary interests equivalent to the Option Shares to be admitted to trading on AIM and it is anticipated that trading in such securities will commence on July 10, 2024. Following the issue of the Option Shares, the Company will have a total number of shares in issue of 19,199,860 common shares of no par value each.

"Caledonia has no shares in treasury; therefore, this figure may be used by holders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company," the company said in a notice.

Caledonia Mining Corporation Plc is a mining and exploration company.

Its asset portfolio comprises a 64% interest in the operational Blanket Mine, as well as 100% ownership of the Bilboes mine and the Motapa and Maligreen gold mining claims, all located in Zimbabwe.