Kazera Global raises £1.6m
Aim-listed Kazera Global has closed its retail share offer, bringing in £262 407 and lifting the total proceeds from its latest fundraising activities to £1.6-million.
The investment company, which focuses on heavy mineral sands and diamond production in South Africa, said the funds were raised through the issue of nearly 17.5-million new shares priced at 1.5p each, with the final step now dependent only on the shares being admitted to trading on the LSE's Aim.
“We are pleased to have completed the retail offer and would like to thank all retail shareholders who chose to participate. Retail investors have been an important part of the company’s journey since our initial public offering in 2006 and providing them with the opportunity to take part in this fundraise was something we were determined to deliver,” Kazera CEO Dennis Edmonds said on December 4.
The company confirmed that each retail offer share carried a three-for-two warrant, allowing the holder to subscribe for three additional shares for every two already held. These warrants would be exercisable at 2.5p a share for 12 months from admission.
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