Business
Placing and Admission to AIM
Placing and Admission to AIM.
About this update from Kefi Gold And Copper Plc
[{"type":"text","content":"\n Kefi Minerals plc\n18 December 2006\n\n\n 18 December 2006\n \n KEFI Minerals Plc\n\n Placing and Admission to AIM\n\nKEFI Minerals Plc ('KEFI' or the 'Company'), the gold and copper exploration \ncompany with projects in Turkey and Bulgaria, announces the commencement of \ntrading on AIM (Code 'KEFI') following the successful placing of 46,666,667 \nPlacing Shares at 3p to raise £1.4 million.\n\nHighlights\n\n •The Company's market capitalisation at the placing price of 3p per share\n is £2.66 million;\n\n •Australian institutional shareholder Direct Portfolio Services Limited\n has committed to subscribing an additional £50,000 in April 2007;\n\n •KEFI holds exploration licences in Turkey and Bulgaria;\n\n •Ownership of database containing information about approximately 100\n prospective sites in Turkey;\n\n •Turkey and Bulgaria have established mining backgrounds;\n\n •Strong management with highly demonstrable track records;\n\n •KEFI able to use original parent company EMED Mining Public Limited's\n ('EMED') systems and personnel, at cost; and\n\n •Mining opportunities identified by EMED in Bulgaria or Turkey will be\n referred to KEFI.\n\nWH Ireland Limited acted as Broker and as Nominated Adviser to KEFI.\n\nKey Statistics\n\nPlacing Price 3p\n\nExisting Ordinary Shares 42,000,000\n\nNumber of Placing Shares 46,666,667\n\nEnlarged Share Capital 88,666,667\n\nPercentage of Enlarged Share Capital attributable to the\nPlacing 52.6%\n\nMarket Capitalisation of the Company at the Placing Price \non Admission £2.66 million\n\nGross Proceeds of the Placing £1.4 million\n\nEstimated Net Proceeds of the Placing Receivable by the \nCompany £1.0 million\n\nThe major shareholders in KEFI following the Placing are EMED Mining (38.7%), \nStarvest Plc (20.7%) and Directors, Management and their families (9.8%).\n\nIn addition to the Placing, institutional shareholder Direct Portfolio Services \nLimited has committed to subscribing an additional £50,000 in April 2007 for \n1,666,667 new ordinary shares at 3p, to raise its holding to 3.7%.\n\nKEFI's Managing Director, Jeff Rayner, said: 'We look forward to KEFI's AIM \nfloat and believe it will be instrumental in raising the profile of the KEFI \ngroup. We are confident that we will be able to exploit KEFI's assets to their \nfullest potential.'\n\n -Ends-\n\nEn...