African Minerals Ltd has announced that the proposed investment by China Railway Materials Commercial Corp. (CRM) in African Minerals announced by the Company on 1 April 2010 has received approval of regulatory authorities of the government of China and has now been completed. CRM has invested GBP 167,897,370 in African Minerals in return for 33,579,474 new common shares of USD 0.01 each in the company at GBP 5.00 a share, a significant premium to the share price both at the current time and when the investment agreement was executed. Application has been made for the New Common Shares to be admitted to trading and these will rank pari passu with the Company’s existing common shares. Admission of the New Common Shares to AIM is expected on 18 June 2010. Upon admission of the New Common Shares to trading, which represent 12.5% of the Company’s enlarged issued share capital, there will be a total of 268,685,793 common shares in issue.
