LONDON - Kefi Gold and Copper PLC (AIM: KEFI), a gold and copper exploration and development company with projects in Ethiopia and Saudi Arabia, has announced a retail offer for subscription of new Ordinary Shares via PrimaryBid. The issue price is set at 0.55 pence per share, marking a 15.4% discount from the closing mid-price of the company's existing Ordinary Shares as of today.
The offer is part of a broader capital raise effort by the company that includes a firm placing, a conditional placing of new Ordinary Shares, and a conditional subscription. This capital raise aims to fund the completion of project financing for the Tulu Kapi gold project, settle current liabilities, and provide general working capital.
Retail investors, including both existing shareholders and new investors, can participate in the offer through PrimaryBid's network of retail brokers, wealth managers, and investment platforms, with a minimum subscription of £250 per investor. The aggregate demand for the PrimaryBid Offer is capped at £500,000.
The offer is conditional upon the PrimaryBid Shares being admitted to trading on AIM, which is expected to occur on December 6, 2024. The company emphasizes that the PrimaryBid Offer must be completed alongside the Placing.
Kefi Gold and Copper has chosen to provide this opportunity to retail investors to value its retail investor base, despite the Placing being structured as a non-pre-emptive offer for efficiency. The offer is expected to close this evening and may end early if oversubscribed.
The announcement clarifies that the new Ordinary Shares issued will rank equally in all respects with the company's existing Ordinary Shares and those issued in the Placing. The company reserves the right to scale back orders at its discretion and to reject any application without providing a reason.
This offer is available exclusively to investors in the United Kingdom (TADAWUL:4280), with the company and PrimaryBid reserving the right to reject applications from other jurisdictions. The offer is being made under exemptions from the need for a prospectus as per the FCA's Prospectus Regulation Rules.
This news is based on a press release statement and does not constitute an offer of securities in the United States or other jurisdictions where such an offer would be unlawful.
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