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Caledonia Mining announces issue of further shares after admin issues

Caledonia Mining Corp PLC said on Friday it issued a further 1,814 shares in Zimbabwe placing.

The Jersey-based gold producer said the total raised by the Zimbabwe placing following the issue of shares is approximately USD5.9 million for the issue of a total of 425,765 Zimbabwe depositary receipts.

This statement comes after Caledonia Mining announced on Tuesday the placing had raised USD5.8 million, with a total of 423.951 ZDRs, placed at a price of USD13.74. Nevertheless, due to administrative issues in Zimbabwe, a further 1,814 ZDRs were subscribed and paid for but not recorded and notified to Caledonia Mining, the company explained, reflecting why it issued further shares on Friday.

Caledonia Mining said the fundraise now totals approximately USD16.6 million.

The company added that an application has been made to the London Stock Exchange for 1,814 depositary interests, and the admission is expected to take place on April 19.

Shares were down 0.9% at 1,338.00 pence in London on Friday afternoon. – (New Zimbabwe)


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