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Placing to raise £0.5 million

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RNS Number : 8510T
Kazera Global PLC
25 March 2019
 

25 March 2019

Kazera Global plc

 

Placing to raise £0.5 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 £0.5 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 £0.5 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, £0.5 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 broker)

Scott Mathieson / Anthony Adams (corporate finance) 

Tel: +44 (0)207 220 0500

 

Shore Capital (Joint broker)

Jerry Keen (corporate broking)

Tel: +44 (0)207 408 4090

Camarco (PR)

Gordon Poole / James Crothers / Monique Perks

Tel: +44 (0)203 781 8331

 

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 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.
 
END
 
 
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Quick facts: Kazera Global PLC

Price: 0.45

Market: AIM
Market Cap: £1.59 m
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