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Pin to quick picksKefi Gold Share News (KEFI)

Share Price Information for Kefi Gold (KEFI)

London Stock Exchange
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Share Price: 0.552
Bid: 0.554
Ask: 0.568
Change: 0.012 (2.22%)
Spread: 0.014 (2.527%)
Open: 0.54
High: 0.56
Low: 0.54
Prev. Close: 0.54
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UK TRADING UPDATE SUMMARY: SpaceandPeople Hit By UK, Germany Lockdowns

Fri, 24th Apr 2020 13:09

(Alliance News) - The following is a round-up of updates by London-listed companies on the impact of the Covid-19 pandemic, issued on Friday and not separately reported by Alliance News:

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SpaceandPeople PLC - retail space selling and marketing - Says UK and Germany severely hurt by Covid-19 outbreak amid closures of shopping centres. Majority of staff in UK and Germany furloughed. Postponed 2019 results. Says it has received approval for additional GBP1 million through UK government coronavirus business interruption loan.

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Ground Rents Income Fund PLC - real estate investment trust - Notes "material valuation uncertainty" due to Covid-19. Company portfolio value falls 0.2% to GBP122.6 million at March 31. Will still pay 0.99 pence per share interim dividend.

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Alternative Income REIT PLC - real estate investment trust - Says well-positioned despite Covid-19 causing global uncertainty. To continue paying "attractive" quarterly dividend. Received 82% of rent due in March, EPRA net asset value per share down 17% quarter-on-quarter to 1.268 pence per share on March 31.

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Standard Life Private Equity Trust PLC - investor - Says too early to quantify impact of Covid-19 outbreak. NAV per share rose 0.6% to 464.5p in quarter ended December 31.

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CVC Credit Partners European Opportunities Ltd - investor - Cuts dividend target to 4 pence for next 12 months, due to impact of Covid-19. Would represent a 27% reduction from 5.5p in 2019.

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Petards Group PLC - surveillance systems - Postpones 2019 results to end of May. Says not able to provide guidance due to pandemic. Notes timing of contract awards with Department for Transport, the Ministry of Defence and train operators unknown as they focus on Covid-19 response.

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Shearwater Group PLC - cybersecurity - Says step-up in software sales due to increased demand amid virus outbreak. Plans to raise GBP2.5 million through placing, agrees new three-year GBP4 million revolving credit facility with Barclays Bank PLC.

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Bilby PLC - building services - Says operations deemed essential by UK government. Says Covid-19 outbreak has presented challenges due to social restrictions causing delays to projects. Saving costs, altering shift patterns and using government measures such as furlough scheme.

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Amiad Water Systems Ltd - water systems - Says directors take pay cut amid pandemic. Non-essential spend and travel halted. Too early to assess impact of virus outbreak.

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DWF Group PLC - law firm - Agrees increase to revolving credit facilities and relaxation of banking covenants. Agreement means new GBP15 million facility in addition to GBP80 million existing financing. Says enough liquidity to manage Covid-19 crisis.

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KEFI Minerals PLC - gold explorer - Has altered timing of work at Tulu Kapi project, Ethiopia due to virus. Still expects full gold production at Tulu Kapi in 2022.

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Vertu Motors PLC - car retailer - Says annual results will now be published on June 3, with annual general meeting moved to August 20 from late June.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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IN BRIEF: Kefi says Tuly Kapi project progressing towards launch

Kefi Gold & Copper PLC - Cyprus-based gold exploration company, focused on assets in Ethiopia and Saudi Arabia - Says its Tulu Kapi gold project financing agreements are in "near-final form". This comes after Kefi Gold reported earlier this month that its lead lender had approved a conditional final credit committee. The company said that the USD320 million financial packages will go towards its "shovel-ready" Tulu Kapi project in western Ethiopia. The project has already received approval from "key syndicate members", the company said, and Kefi believes that reported actions by the Ethiopian Government indicate its assent. Adds that its 25% owned Jibal Qutman gold and Hawiah copper-gold development projects are undergoing feasibility studies. Kefi also says it is targeting the launch of the projects.

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Kefi Gold receives lender approval for Tulu Kapi gold credit committee

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IN BRIEF: Kefi Gold & Copper shares rise as regulatory issues resolved

Kefi Gold & Copper PLC - Ethiopia and Saudi Arabia-focused gold exploration and development company - Receives formal confirmation from the National Bank of Ethiopia of details for the operation of offshore banking by its operating subsidiary Tulu Kapi Gold Mines Share Co and its project finance banks. Says this clarifies the operational details for the implementation of the policies set out in the recently published National Bank of Ethiopia Directives, waiving mining projects from foreign exchange control and capital controls. As a result, Tulu Kapi is now fully-permitted, with only procedural administrative confirmations remaining. Consequently, the project finance banks can proceed to final credit approval for the project's USD190 million secured debt package. Upon approval, the project's debt terms will have been resolved, as will the structure of the overall USD390 million finance plan. Notes this is a "pivotal" formal step for project launch. Expects full project launch to begin in the current quarter.

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