KEFI Gold and Copper - The penultimate piece of the puzzle

On 4 March, KEFI announced a firm placing of 750m new shares to raise £4.5m at a price of 0.6p/share plus a further 83.3m shares (subject to approval by shareholders at a general meeting on 26 March), also at 0.6p, in direct settlement of a number of the company’s liabilities. Finally, on 5 March, it announced the closure of a simultaneous retail offer via PrimaryBid to raise a further £0.5m via the issue of a further 82.7m shares. Assuming approval at the company’s general meeting, in aggregate, KEFI will be raising £5.5m (gross) via the issue of 916.0m shares, such that the final total, post-presumed 26 March approval, will be 5,881.1m.