By Devika Patel
Knoxville, Tenn., Sept. 1 - Kalahari Minerals plc said it plans to raise £20 million in a private placement of shares. It will also price £10 million convertible bonds soon.
The company will sell 11,764,706 ordinary shares at 170p per share via agents Ambrian Partners Ltd. and Mirabaud Securities LLP.
Proceeds will be used to maintain the company's 40% stake in Extract Resources Ltd.
London-based Kalahari Minerals is a mining exploration and evaluation company.
| Issuer: | Kalahari Minerals plc
|
| Issue: | Ordinary shares
|
| Amount: | £20 million
|
| Shares: | 11,764,706
|
| Price: | 170p
|
| Warrants: | No
|
| Agents: | Ambrian Partners Ltd. and Mirabaud Securities LLP
|
| Pricing date: | Sept. 1
|
| Stock symbol: | London: KAH
|
| Stock price: | 178p at close Sept. 1
|
| Market capitalization: | £355 million
|
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