Business
ACQUSITION UPDATE
ACQUSITION UPDATE.
About this update from Kefi Gold And Copper Plc
[{"type":"text","content":"\n \nRNS Number : 7174Q Kefi Minerals plc 03 September 2014 \n \n\n \n 3 September 2014\n \nKEFI Minerals Plc \n(\"KEFI\" or the \"Company\")\n \n \nKEFI MOVES TO 100% OWNERSHIP FOLLOWING ACQUSITION OF REMAINING 25% OF TULU KAPI\n \n \nKEFI Minerals (AIM: KEFI), the gold exploration and development company with projects in the Kingdom of Saudi Arabia and the Federal Democratic Republic of Ethiopia, is pleased to announce that, at a general meeting held earlier today, the shareholders of Nyota Minerals Limited (\"Nyota\") approved the sale of Nyota's remaining 25% of the Tulu Kapi Gold Project (\"Tulu Kapi\") to KEFI (the \"Acquisition\"). Following completion, Kefi Minerals will own 100% of Tulu Kapi. At the general meeting, Nyota's shareholders also approved the in-specie distribution by Nyota to its shareholders of all KEFI shares held by it on completion of the Acquisition (the \"Distribution\").\n \nAs a result of these approvals, the Acquisition is expected to complete at 8.00am BST on Friday, 5 September 2014 upon admission of the new 50,000,000 ordinary shares in KEFI (the \"Consideration Shares\") commencing trading on AIM. As previously announced by Nyota, the Distribution is expected to occur on Wednesday, 17 September 2014. \n \nFollowing the Distribution, KEFI will have new shareholders who, between them, will hold approximately 15% of KEFI's issued share capital. The new shareholders will include funds and institutions such as: Resource Capital Fund V L.P; International Finance Corporation; and, Centamin Ho...