Gold focused mining and exploration company, Caledonia Mining Corporation issued and allocated 619,783 shares on the Victoria Falls Stock Exchange (VFEX) for the Zimbabwean investors, the company said.
According to Caledonia further to its announcement on November 29, 2021, concerning the oversubscribed placing of securities to be listed on the VFEX, the Company has now issued and allotted 619,783 shares of no par value each against which the same number of depositary receipts have been issued to Zimbabwe investors.
The issue of depositary receipts has raised gross proceeds for the Company of approximately US$7.83m. Listing of the depositary receipts on the VFEX is expected to occur today with trading also commencing today.
The Company now has a total number of shares in issue of 12,756,606 common shares of no par value each. Caledonia has no shares in the 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. Application has been made to AIM for admission of an equivalent number of new depositary interests representing the same number of new shares in the share capital of the Company which will rank pari passu with the existing shares in issue, and admission of those depositary interests is expected to occur tomorrow.