African Copper PLC

African Copper PLC

April 18, 2011 02:00 ET

African Copper Plc: Correction re Announcement Dated 9 February 2011

LONDON, UNITED KINGDOM--(Marketwire - April 18, 2011) - African Copper plc ("African Copper" or "the Company") (AIM:ACU)(BOTSWANA:AFRICAN COPPER) corrects a statement made in its announcement of 9 February 2011 (under the heading "Additional ZCI Loan, Debt for Equity Swap") following an error in the calculation in respect of the numbers of shares issued to ZCI Limited ("ZCI") following the debt for equity swap to exchange USD9.5 million in outstanding debt for new ordinary shares of the Company.

The correct number of shares issued to ZCI is 105,369,488 and not 169,318,230. ZCI's resulting aggregate holding of ordinary shares in ACU following the debt conversion to shares is 781,939,988 representing approximately 84.19% of the total number of shares in issue and not 85.21% as stated in the 9 February 2011 announcement.

Following this correction the number of African Copper ordinary shares in issue is 928,798,988.

Notes to Editors:

African Copper Plc is an AIM-listed copper producer and exploration company, currently focused on Botswana. The Company's flagship project is the copper producing open pit Mowana Mine. ACU also owns the rights to the adjacent Thakadu-Makala deposit. Both deposits are situated on the highly prospective Matsitama belt, located close to Botswana's second largest city, Francistown, in the north-eastern part of the country.

Contact Information

  • African Copper Plc
    Brad Kipp
    Chief Financial Officer
    +1 (416) 847 4866

    Tavistock Communications (PR and IR)
    Simon Hudson/Lydia Eades
    +44 (0) 20 7920 3150

    Canaccord Genuity (NOMAD and Broker)
    Andrew Chubb/Tarica Mpinga
    +44 (0) 20 7050 6500