La Mancha Announces Strategic Investment of C$11.2 Million in Altus Strategies Plc
LUXEMBOURG, Feb. 21, 2020 (GLOBE NEWSWIRE) -- La Mancha Holding S.à.r.l. (“La Mancha”), a Luxembourg‐incorporated private gold investment company, is pleased to announce that it has completed the acquisition of 124,229,389 ordinary shares at a price of C$0.09 per share of Altus Strategies Plc (AIM: ALS & TSX-V: ALTS) (“Altus”) pursuant to a strategic investment agreement with Altus (the “Strategic Investment Agreement”).
As a result of the transaction, La Mancha became an insider of Altus, holding an aggregate of 124,229,389 ordinary shares representing approximately 35.4% of the issued and outstanding Shares. The Strategic Investment Agreement provides for La Mancha’s right to nominate two non-executive directors to the Altus Board of Directors, as well as certain anti-dilution and pre-emptive rights and governance matters.
La Mancha acquired the ordinary shares of Altus for business and investment purposes. In the future La Mancha may, from time to time, increase or decrease its investment in Altus through market transactions, private agreements, treasury issuances or otherwise at any time subject to the terms of the Strategic Investment Agreement and other applicable restrictions.
La Mancha’s head office is located at 31‐33 avenue Pasteur L‐2311 Luxembourg.
Altus’ head office is located at The Orchard Centre, 14 Station Road, Didcot, Oxfordshire, NA, OX11 7LL.
La Mancha will file an early warning report in accordance with applicable securities laws, which will be available under Altus’s profile on the SEDAR website at www.sedar.com, and may also be obtained by contacting:
Karim Nasr
Chief Executive Officer of the La Mancha Group
T: +44 (0) 20 3960 2020
Email: contact@lamancha.com
ABOUT LA MANCHA GROUP
La Mancha is a privately held international gold company with investments in Endeavour Mining, Evolution Mining and Golden Star Resources, having operations in West Africa (Mali, Burkina Faso, Côte d’Ivoire and Ghana) and Australia, respectively. La Mancha was taken private in 2012 by the Sawiris family. Under the Sawiris family ownership, since 2012, La Mancha has expanded its exposure to mining operations in Africa and Australia and is invested in three mining companies with total production exceeding 1.8 million gold equivalent ounces per annum. Mrs. Yousriya Nassif Loza owns all of the issued and outstanding shares of Marchmont Limited, the holding company of La Mancha Holding S.à r.l. For more information, please visit www.lamancha.com.
