Kefi Minerals plc Result of General Meeting and Admission of Shares (7652Z)
December 15 2014 - 6:38AM
UK Regulatory
TIDMKEFI
RNS Number : 7652Z
Kefi Minerals plc
15 December 2014
15 December 2014
KEFI Minerals plc
("KEFI" or the "Company")
Result of General Meeting and Admission of Second Placing
Shares
KEFI Minerals (AIM: KEFI), an emerging gold miner with projects
in the Kingdom of Saudi Arabia and the Federal Democratic Republic
of Ethiopia, is pleased to announce, further to the announcement on
26 November 2014, that the resolutions proposed at the General
Meeting held this morning (the "Resolutions") were duly passed.
The First Placing (GBP0.8 million) to certain existing
shareholders at 1 pence per share completed on 2 December 2014.
As a result of the passing of the Resolutions to grant the Board
authority to allot the Second Placing Shares and Third Placing
Shares for cash on a non pre-emptive basis, application has been
made for admission of the Second Placing Shares to trading on AIM
and it is expected that 110,000,000 new Ordinary Shares will be
admitted to trading on AIM tomorrow, 16 December 2014.
The number of Placing Shares to be subscribed by each Director
and their resulting shareholdings on Second Admission are set out
below:
Percentage Percentage
Number of of existing Number of of enlarged
existing issued Number of Ordinary share capital
Ordinary share Placing Shares on on Second
Shares capital Shares Second Admission Admission
Harry Anagnostaras-Adams 13,966,667 1.24% 20,000,000 33,966,667 2.75%
Ian Plimer 3,116,668 0.28% 1,250,000 4,366,668 0.35%
Jeffrey Rayner 4,783,333 0.43% 2,600,000 7,383,333 0.60%
John Leach 1,000,000 0.09% 1,250,000 2,250,000 0.18%
The Third Placing is conditional upon, amongst other things,
Second Admission becoming effective, on authorisation of Goldfields
Resources Fund by the Central Bank of Ireland, on Perth Global
Funds plc having received cleared funds in an amount of not less
than GBP5 million from investors into the Goldfields Resources
Fund, on there being no legal or regulatory provision applicable to
the Goldfields Resources Fund, to Perth Global Funds plc or to
Perth Partners LLP which prohibits any of those parties subscribing
for the Third Placing Shares and the admission of the Third Placing
Shares to trading on AIM becoming effective on or before 8.00 a.m.
on 27 February 2015 (or such later date as Fox-Davies Capital Ltd
("Fox-Davies") and the Company may agree being not later than 8.00
a.m. on 15 March 2015).
The Placing proceeds are primarily intended to fund the Company
through the next phase of its development with the majority of
funds to be expended on progressing the flagship Tulu Kapi project
in Ethiopia beyond the point in mid-2015 where it is planned that
full development funding be arranged.
The Company shall also, subject to Second Admission, grant to
Fox-Davies warrants to subscribe for 9,500,000 Ordinary Shares
(being equal to five per cent. of the shares to be issued pursuant
to the First Placing and the Second Placing) exercisable for three
years at 1 pence per share.
Total Voting Rights
The First Placing Shares and the Second Placing Shares rank pari
passu with the existing Ordinary Shares of the Company. Following
Second Admission, the total issued share capital of the Company
consists of 1,235,336,880 Ordinary Shares each with voting rights.
The Company does not hold any Ordinary Shares in treasury.
Therefore, the total number of voting rights in the Company is
1,235,336,880 and this figure 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 and Transparency Rules.
Definitions in this announcement are the same as those included
in the Company's circular dated 26 November 2014, available on the
Company's website at www.kefi-minerals.com.
KEFI Minerals Plc
Harry Anagnostaras-Adams (Chairman) +357 99457843
SP Angel Corporate Finance LLP (Nominated
Adviser)
Ewan Leggat, Katy Birkin +44 20 3470 0470
Fox-Davies Capital Ltd (Joint Broker)
Oliver Stansfield, Jonathan Evans +44 20 3463 5000
finnCap Ltd (Joint Broker)
Elizabeth Johnson, Christopher Raggett +44 207 220 0500
Luther Pendragon (Financial PR)
Harry Chathli, Claire Norbury, Ivana
Petkova +44 207 618 9100
This information is provided by RNS
The company news service from the London Stock Exchange
END
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