Kazera Global PLC Placing to raise £0.5 million (8510T)
25 March 2019 - 7:25PM
UK Regulatory
TIDMKZG
RNS Number : 8510T
Kazera Global PLC
25 March 2019
25 March 2019
Kazera Global plc
Placing to raise GBP0.5 million
Kazera Global plc ("Kazera Global", "Kazera" or "the Company"),
the AIM quoted investment company who, through its stake in African
Tantalum (Pty) Limited ("Aftan"), has an interest in the Namibia
Tantalite Investment Mine ("NTI" or the "Mine") in Namibia, is
pleased to announce that is has raised GBP0.5 million before
expenses through a placing of 29,411,765 new ordinary shares of 1p
each at a price of 1.70p each.
Highlights:
-- Successful placing to raise gross proceeds of GBP0.5 million
through the issue of 29,411,765 new ordinary shares of 1p each at a
price of 1.70p each
-- The net proceeds of the Placing will put the Company on a
stronger foot to cover its overheads and to continue to progress
its drilling campaign of resource identification at Signaalberg and
White City deposits, together with advancing discussions with
funders for the Orange River Pipeline
Larry Johnson, CEO of Kazera Global, said:
"I am delighted with the continued support that Kazera has
received from our shareholders. The proceeds of the placing will be
used for working capital purposes and will enable Kazera to
continue the drill programme at key targets, Signaalberg and White
City, which follows the completion of drilling at Homestead and
Purple Haze, where we await the results.
As announced last week, we are also conducting discussions with
two international groups who have approached the Company with
indicative offers for the funding of construction of the Orange
River Pipeline to the Mine, as well as offtake proposals. This new
funding will further enable this process."
Placing Summary
The Placing will raise, in aggregate, GBP0.5 million before
expenses through the placing of, in aggregate, 29,411,765 new
Ordinary Shares (the "Placing Shares") at a price of 1.70p per
share (the "Placing"). The Placing Shares to be issued will rank
pari passu in all respects with the Company's existing Ordinary
Shares and, subject to shareholder approval, will represent
approximately 10.1% of the Company's enlarged issued ordinary share
capital, following admission of the Placing Shares.
Application will be made for the 29,411,765 Placing Shares to be
admitted to trading on AIM ("Admission") and it is expected that
Admission will become effective and trading in the Placing Shares
will commence at 8:00 a.m. on 28 March 2019.
Total Voting Rights
Following Admission, the Company's issued share capital will
consist of 284,128,268 Ordinary Shares, with each Ordinary Share
carrying the right to one vote. The Company does not hold any
Ordinary Shares in treasury and therefore this figure of
284,128,268 Ordinary Shares may be used by shareholders in the
Company as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change in their interest in, the share capital of the Company under
the FCA's Disclosure Guidance and Transparency Rules.
**ENDS**
Kazera Global plc (c/o Camarco) Tel: +44 (0)203 757
4980
Larry Johnson (CEO)
finnCap (Nominated Adviser and Joint Tel: +44 (0)207 220
broker) 0500
Scott Mathieson / Anthony Adams (corporate
finance)
Shore Capital (Joint broker) Tel: +44 (0)207 408
Jerry Keen (corporate broking) 4090
Camarco (PR) Tel: +44 (0)203 781
Gordon Poole / James Crothers / Monique 8331
Perks
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
This information is provided by RNS, the news service of the
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END
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