Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce that further to the announcements made on 15 April 2020, the Company has settled the principal amount of the £212,487 unsecured convertible loan notes and accrued interest (the "Notes") by converting the Notes into 28,358,282 new ordinary shares of 0.1 pence each ("Ordinary Shares") in the Company (the "Conversion Shares").
Application will be made to the Financial Conduct Authority ("FCA") for the Conversion Shares to be admitted to the Standard List segment of the Official List of the FCA and to trading on the main market ("Main Market") of the London Stock Exchange ("Admission"). It is expected that Admission will become effective and that dealings in the Conversion Shares will commence at 8.00am on or around 8 January 2021.