Business
Related Party Transaction
Related Party Transaction.
About this update from Kazera Global Plc
[{"type":"text","content":"\n \nRNS Number : 4203W Kennedy Ventures PLC 27 April 2016 \n\n27 April 2016\n \nKennedy Ventures plc\nRelated Party Transaction\n \nKennedy Ventures plc (\"Kennedy Ventures\" or \"the Company\"), the AIM listed Investing Company, which is focussed on tantalite production through its stake in African Tantalum (Pty) Limited (\"Aftan\"), which owns and manages the Tantalite Valley Mine (\"TVM\") in Namibia, announces that on 26 April 2016 the Board approved an interest-free and unsecured loan facility of up to £150,000 (the \"Loan\") from Westleigh Investments Holdings Limited (\"WIHL\"). The loan will provide working capital which, inter alia, the Company intends to make available to Aftan in order that it can undertake a preliminary evaluation of TVM's lithium potential, as disclosed on 31 March 2016 in the Company's Interim Results and to potentially take advantage of certain short term trading opportunities in tantalite. To date the facility is undrawn.\n \nWIHL is a company in which Giles Clarke and Nick Harrison, both of whom are directors of Kennedy Ventures, hold a beneficial interest of 73.28% and 26.72% respectively and as such the Loan is classified as a related party transaction under Rule 13 of the AIM Rules for Companies.\n \nThe independent directors consider, having consulted with the Company's nominated adviser, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.\n \nFor further information on the Company, visit: www.kvplc.com, or contact:\n \n\n\n\n\nKennedy Ventures plc\n\n\n\n\n\n\n\nPeter Hibberd (CEO), c/o Gordon Poole\n\n\nTel: +44 (0)203 757 4997\n\n\n\n\nGrant Thornton UK LLP (Nominated Adviser)\nColin Aaronson / Richard Tonthat /\nDaniel Bush\n \n\n\nTel: +44 (0)20 7383 5100 \n \n\n\n\n\nShore Capital (Broker)\nMark Percy / Toby Gibbs (corporate finance)\nJerry Keen (corporate broking)\n\n\nTel: +44 (0) 207 408 4090\n\n\n\n\nCamarco (PR)\nGordon Poole / Billy Clegg / Tom Huddart\n\n\nTel: +44 (0) 203 757 4980\n\n\n\n\n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCEQLFLQZFEBBZ\n ","length":4455,"tagName":"div"}]