Arc Minerals Limited (AIM:ARCM) acquired additional 20% stake in Zaco Investment Limited from Mumena Mushinge for £0.18 million on May 18, 2020. As per the transaction, Arc Minerals Limited will issue 10 million new ordinary shares of no par value in the company. Upon completion, Arc Minerals Limited will hold 72.5% stake in Zaco Investment Limited. Following the sale, Mumena Mushinge will step down from the board of Zaco. Ewan Leggat of SP Angel Corporate Finance LLP acted as financial advisor to Arc Minerals Limited. Arc Minerals Limited (AIM:ARCM) completed the acquisition of additional 20% stake in Zaco Investment Limited from Mumena Mushinge on May 18, 2020.