KEFI Gold and Copper plc (LON:KEFI), the gold and copper exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, has provided an update on its Capital Raise, further to the announcements made yesterday.
The Company is pleased to announce that the Retail Offer via PrimaryBid successfully closed at 9:00 p.m. on 30 May 2023. From the Retail Offer, the Company has received orders for 34,820,080 Retail Shares that would raise gross proceeds of approximately £243,741 at the Placing Price of 0.7 pence per Ordinary Share.
In total the Capital Raise is therefore expected to raise gross proceeds of £6.44 million through the £5.50 million Firm Placing, the £0.70 million Conditional Subscription and the £0.24 million Retail offer. The completion of the Conditional Subscription and the Retail Offer remain subject, inter alia, to the passing of resolutions at the Company’s Annual General Meeting to be convened on 30 June 2023.
Shareholders are reminded that because the Conditional Subscription and the Retail Offer are conditional, among other things, on the passing of the share allotment and disapplication of pre-exemption rights resolutions to be proposed at the AGM, should the resolutions not be passed, the Conditional Subscription and the Retail Offer will not proceed. Further announcements will be made in due course as appropriate.
Capitalised terms used in this announcement shall, unless defined in this announcement or unless the context provides otherwise, bear the same meaning ascribed to such terms in the announcement made by the Company at 5.32 p.m. on 30 May 2023.
