Keras Resources PLC Clarification re distribution of shares in Calidus (1861P)
October 09 2019 - 1:00AM
UK Regulatory
TIDMKRS
RNS Number : 1861P
Keras Resources PLC
09 October 2019
Keras Resources plc / Index: AIM / Epic: KRS / Sector:
Mining
9 October 2019
Keras Resources plc ('Keras' or the 'Company')
Clarification regarding distribution of shares in Calidus
Resources Ltd
Keras Resources plc, the AIM listed mineral resource company,
notes that certain shareholders of the Company have been provided
with advice by a London based private client broking firm in
connection with the distribution of ordinary shares in Calidus
Resources Ltd ("Calidus") to the shareholders of Keras
("Shareholders") which the Company believes to be erroneous.
Keras would like to bring the following to the attention of
Shareholders:
-- that ordinary shares of Calidus ("Calidus Shares") are
currently admitted to trading on the ASX, a market operated by
Australian Securities Exchange Limited;
-- that Calidus Shares will not be admitted to trading on the
AIM market of the London Stock Exchange;
-- that the resolutions to be put to Shareholders at the general
meeting of Keras ("GM") to be held at 11.00 a.m. on 14 October 2019
are special resolutions and such resolutions therefore require
votes representing 75% of those cast at the GM to pass;
-- On 25 September 2019, the Calidus Shares had a total value of
GBP11.04m (based on the mid-market closing price quoted on the ASX
and the applicable rate of exchange between the pound and the
Australian dollar), which was greater than the total market
capitalisation of Keras of GBP10.46m at that time; for that
reason,
-- the Directors of Keras believe the total value for
Shareholders will be materially increased by Shareholders holding a
separate interest in ordinary shares of Keras and a separate
interest in Calidus Shares.
Full details of the proposed demerger of Calidus Shares are set
out in the announcement made by the Company on 27 September 2019
and within the Circular that can be found within the Corporate
Documents section at
https://www.kerasplc.com/constitutional-documents/
**ENDS**
For further information please visit www.kerasplc.com, follow us
on Twitter @kerasplc or contact the following:
Russell Lamming Keras Resources plc info@kerasplc.com
Nominated Adviser & Joint
Broker
Ewan Leggat / Charlie SP Angel Corporate Finance +44 (0) 20 3470
Bouverat LLP 0470
Financial PR
Isabel de Salis / Cosima +44 (0) 20 7236
Akerman St Brides Partners Ltd 1177
Notes
Keras Resources plc is focused on building a strategic portfolio
of resource assets. The Company provides investors with exposure to
the near-production Nayega manganese mine ('Nayega') and the
Kamino, cobalt and nickel project in Togo, West Africa. Keras
benefits from a supportive Board of Directors currently owning
25.8% of the Company and a highly skilled management team, which
has extensive operational experience in Africa and Australia 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 rns@lseg.com or visit www.rns.com.
END
MSCEALEPEEPNFFF
(END) Dow Jones Newswires
October 09, 2019 02:00 ET (06:00 GMT)
Keras Resources (AQSE:KRS.GB)
Historical Stock Chart
From Jul 2024 to Aug 2024
Keras Resources (AQSE:KRS.GB)
Historical Stock Chart
From Aug 2023 to Aug 2024