The IFC is the largest shareholder in Nyota, with a shareholding of 65,186,322 shares equivalent to 13.64% of the issued share capital. In June 2010 a £3.44 million subscription by the IFC was completed. As a result of the placement 29,749,372 new shares were allotted and issued to the IFC, giving it a shareholding of 10% in the company. In addition 22,311,995 options were granted to the IFC in connection with its investment. Further details can be found in the Company announcement dated 14 April 2010.
The IFC exercised its options on 11 February 2011, Nyota received a total of GBP3.87 million. The IFC maintained its original 10% shareholding by subscribing for 13,125,000 shares in Nyota’s equity offering in November 2010.
The Project will also benefit from the IFC's world-class expertise supporting mining projects in developing countries and the potential for debt financing from the IFC, should it be required, once the project reaches production.
About the IFC
IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. IFC fosters sustainable economic growth in developing countries by supporting private sector development, mobilizing private capital, and providing advisory and risk mitigation services to businesses and governments. IFC's new investments totaled $14.5 billion in fiscal 2009, helping channel capital into developing countries during the financial crisis. For more information about IFC, visit www.ifc.org.
