Announcements: Conditional Completion of Placing
17 February 2012
KEFI Minerals Plc
(“KEFI Minerals” or the “Company”)
Conditional Completion of Placing
KEFI Minerals, an AIM-quoted gold and copper exploration company with projects in the Kingdom of Saudi Arabia, is pleased to announce that is has conditionally raised £1,850,000 (before expenses) by way of a significantly over-subscribed placing, by Fox Davies Capital Limited (“Fox Davies”) of the issue of 61,666,667 ordinary shares (“Placing Shares”) at a price of 3p per ordinary share (the “Placing”).
Application has been made to London Stock Exchange plc for the Placing Shares to be admitted to trading on AIM and it is expected that Admission will become effective and that dealings will commence in the Placing Shares on 22 February 2012. The Placing is conditional on admission of the Placing Shares to trading on AIM (“Admission”).
In connection with the Placing the Company has granted, conditional on Admission, warrants to each of Fox Davies and WHI Stockbrokers to subscribe for up to 2,916,667 Ordinary Shares at 3p per share, representing five per cent. of the total number of Placing Shares. Fox Davies has been granted with warrants over 2,391,667 Ordinary Shares and WHI Stockbrokers has been granted with warrants over 525,000 Ordinary Shares. Such warrants will be exercisable for five years following Admission.
KEFI Minerals PLC www.kefi-minerals.com
Jeffrey Rayner +90 533 928 19 13
Simon Leathers +44 203 463 5010
Nick Rome +44 207 562 3350
References in this announcement to exploration results and potential have been approved for release by Mr. Jeffrey Rayner. Mr Rayner is a geologist and has more than 25 years’ relevant experience in the field of activity concerned. He is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM) and has consented to the inclusion of the material in the form and context in which it appears.
Further information on KEFI Minerals is available at www.kefi-minerals.com and the Company's AIM code is “KEFI”.