Kazera Global PLC (AIM:KZG), an AIM-quoted investor in mining and exploration, said African Mineral Sands Pte Ltd (AMS) has completed the acquisition of 250 million ordinary shares in the company at 1.5 pence per share.
The shares were previously held by Catalyse Capital Ltd and its related parties.
The acquisition makes African Mineral Sands, a mining and infrastructure company focused on the South African market, the largest shareholder of Kazera, holding 26.69% of the company’s ordinary shares.
Dennis Edmonds, chief executive officer of Kazera, said: "We are delighted that AMS has now completed its share purchase, which was completed at 1.5 pence per share, a premium of 183% on the company's closing share price on 12 December 2023.
"AMS and its partners have extensive experience in mining and infrastructure projects in Southern Africa and we have no doubt that they will add significant value, including via a number of new possible project opportunities AMS has already introduced to Kazera."
Kazera's share price rose 14.29% in early trades this morning to 0.60 pence per share.