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Distribution of Calidus Shares

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RNS Number : 6125U
Keras Resources PLC
26 November 2019
 

 

Keras Resources plc / Index: AIM / Epic: KRS / Sector: Mining

26 November 2019

Keras Resources plc

('Keras' or the 'Company')

 

Distribution of Calidus Shares

 

Further to its previous announcements, Keras confirms that in accordance with the demerger approved by the High Court ("Demerger"), the transfer of 723,750,000 ordinary shares of Calidus Resources Limited ("Calidus Shares") to Keras shareholders has now been completed.  The transfer was made on the basis of one Calidus Share for every 3.451963 Keras ordinary shares ("Keras Shares") held by Keras shareholders named on the Company's share register at 6 pm on 19 November 2019 ("Record Date"). 

The Directors have been informed that the Keras Shares became "ex" entitlement to the Calidus Shares on 21 November 2019. Accordingly, any sale of Keras Shares that were held within the CREST system, occurring on 20 November 2019, will transfer within the CREST system the associated right to Calidus Shares, from the registered holder on the Record Date to the buyer of Keras Shares on that date. For the avoidance of doubt, if any Keras shareholder held Keras Shares within the CREST system on the Record Date and did not sell any Keras Shares until 21 November 2019 onwards, then that Keras shareholder will receive Calidus Shares.

Where a Keras shareholder held their Keras Shares in certificated format on the Record Date, they will have been issued with a Security-Holder Reference number ("SRN") for Calidus Shares by The Automic Group, the registrars to Calidus Resources Limited. The SRN must be quoted when trading in Calidus Shares on the ASX. The SRN will be included on a Holding Statement that will be posted to the shareholder's registered address.

Keras shareholders who hold their shares through a nominee company, (i.e. a broking account where your shares are not directly registered in your name), should contact their nominee to discuss the onward transfer of their Calidus Shares.

**ENDS**

 

For further information please visit www.kerasplc.com, follow us on Twitter @kerasplc or contact the following:

 

Russell Lamming

Keras Resources plc

[email protected]

 

Nominated Adviser & Broker

Ewan Leggat / Charlie Bouverat

 

SP Angel Corporate Finance LLP

+44 (0) 20 3470 0470

 

Financial PR

Isabel de Salis / Cosima Akerman

St Brides Partners Ltd

+44 (0) 20 7236 1177

 

Notes

Keras Resources plc is focused on building a strategic portfolio of resource assets, providing investors with exposure to a portfolio of development assets including manganese, cobalt and nickel in Togo, West Africa.  It is also in the process of transferring its holding of shares in Calidus Resources Limited to its shareholders by way of a capital reduction. The Company benefits from a skilled management team, which has extensive experience in the resource sector and proven success in advancing assets up the value curve.

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Keras Resources PLC

Price: 0.1725

Market: AIM
Market Cap: £4.44 m
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