Shefa Gems Ltd Delay in Half-year Report (1881B)
September 29 2022 - 5:32AM
UK Regulatory
TIDMSEFA
RNS Number : 1881B
Shefa Gems Ltd
29 September 2022
29 September 2022
Shefa Gems Ltd.
("Shefa Gems" or the "Company")
Delay in the publication of Financial Report for the half-year
ended 30 June 2022
Due to unforeseen changes in its legal and accounting teams,
Shefa Gems Ltd (LSE: SEFA) hereby gives notice that it will not be
able to publish its half-yearly financial report by 30 September,
in accordance with DTR 4.2. The Company anticipates that it will
publish its report no later than 31 October 2022.
- Ends -
Enquiries
Shefa Gems Ltd
Alon Shani - Chairman +972 52 586 8616
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Notes to Editors
About Shefa Gems Ltd
Shefa Gems Ltd (LSE: SEFA) was previously engaged in the
exploration and mining of gemstones in Northern Israel, operating
multiple exploration sites located across the Kishon River
catchment area of Haifa and Mt Carmel. Following a strategic
review, it was determined that the Company could no longer justify
the costs of being a listed company, and that any future funds
raised on the basis of exploration activity should be entirely
dedicated to the development of mining activity. On 1 June 2021,
the Company announced an agreement with the "Shany Group," a
consortium of investors led by Mr. Alon Shany and Ms. Eva Abittan,
wherein the Shany Group and other unrelated parties would pay an
amount of approximately GBP 756,000 in return for a subscription to
approximately 85% of the Company's issued share capital.
Additionally, the Company would transfer all of its exploration and
mining assets to its formerly wholly-owned subsidiary, Shefa in
Israel (G.M.) Ltd (the "Subsidiary", a private company registered
in Israel), and distribute ownership of the Subsidiary to all of
the Company's existing Shareholders via a dividend in specie. The
transaction was approved by the Company's shareholders on 9 August
2021. The dividend in specie has yet to be completed and the shares
of the Subsidiary are held by a trustee.
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