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KEFI Minerals Plc

KEFI Minerals plc Loan note conversion

KEFI Minerals (LON:KEFI), the gold exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, has announced today that it has received notice from one of its working capital providers to convert £168,000 of the Loan Note issued on 5 August 2019 into new KEFI ordinary shares of 0.1p each at 0.96 pence per share. Accordingly, KEFI has today allotted and issued 17,510,944 New Ordinary Shares to the loan facility provider. The loan facility provider holds less than 3% of KEFI’s outstanding share capital.

Application has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM with admission expected to occur on or around 20 August 2019.

Total Voting Rights

Following Admission of the 17,510,944 New Ordinary Shares, the total issued share capital of the Company will consist of 706,778,448 Ordinary Shares each with voting rights. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company will be 706,778,448 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.

KEFI Minerals is focused primarily on the advanced Tulu Kapi Gold Project development project in Ethiopia, along with its pipeline of other projects within the highly prospective Arabian-Nubian Shield. KEFI targets that production at Tulu Kapi generates cash flows for capital repayments, further exploration and expansion as warranted and, when appropriate, dividends to shareholders.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.