Kavango issues more than 74m new shares to Zim consortium

BRITISH miner, Kavango Resources Plc (Kavango) will issue more than 74 million new ordinary shares to Comarton Consultants (Private) Limited (Comarton) and nine pension funds under the Comarton Managed Pension Funds Investments Consortium (CMPFIC) to deepen local institutional participation.

The pension fund investment traces back to an interest-free US$5 million convertible loan note facility agreed in April 2025 between Kavango and CMPFIC.

The facility, structured in three tranches, was designed to convert into equity at the US dollar equivalent of 1 pence per share and to anchor the company’s planned entry onto the Victoria Falls Stock Exchange (VFEX) as part of a strategy to expand local ownership of its Zimbabwean assets.

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