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clock Created with Sketch. 20/04/18
14:57
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Originally posted by bentleigh
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La Mancha Group International B.V. (La Mancha) advises that it has undertaken a block trade sale of shares in Evolution Mining Limited (Evolution), representing 5% of the current issued share capital. As a result, La Mancha’s direct interest in Evolution is now 15% and it continues to be its largest shareholder. Citigroup Global Markets Australia Pty Limited (Citi) and J.P. Morgan Australia Limited (J.P. Morgan) completed a successful bookbuild sale of approximately 84.6 million Evolution shares after market close on 19 April 2018. The shares were sold at A$3.21 per share, representing a discount of 4.5% to the closing price. La Mancha has been advised by J.P. Morgan and Citi that there was strong demand for the shares, including from a number of large existing institutional shareholders. In commenting on the transaction, Mr Naguib Sawiris, Chairman of La Mancha, said: "Following the formation of a new investment team early this year to pursue opportunities in the mining sector in new geographies, including Latin America and Central Asia, and our desire to continue to support the growth of our other existing investment, in particular in Africa, we have decided to rebalance La Mancha’s holdings by monetizing a portion of our stake in Evolution Mining. The successful placement demonstrates the continuing market support for Evolution among institutional investors internationally. This sale will enable La Mancha to fulfil its strategi
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