London, England — MININGREVIEW AFRICA — 26 March 2010 – Mwana Africa plc “’ an Pan-African mining, exploration and development company focused on gold, base minerals and diamonds in southern, central and west Africa – has announced the successful completion of a US$13.25 million (R99 million) equity placing.
A company statement issued here confirmed that a total of 88 340 540 new ordinary shares of the company had been placed by Canaccord Adams Limited at a price of 10 pence per placing share, raising approximately US13.25 million (R99 million) before expenses.
It added that application had been made for, and the placing was conditional on, inter alia, admission of the placing shares to trading on AIM. It was expected that settlement would occur, admission would become effective and dealings in the placing shares would commence at 8.00 a.m. on 31 March 2010.
Following admission of the placing shares, Mwana Africa’s issued share capital will consist of 486 107 759 ordinary shares of 10p each, excluding 2 666 600 ordinary shares which are currently held by Mwana Africa in treasury, and in respect of which no voting rights may be exercised.