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(Alliance News) - Kodal Minerals PLC said on Tuesday it is seeking confirmation from SVS Securities PLC about whether it will pay the GBP200,000 it committed during a share placing last week.
Broker SVS entered administration on Monday but a week prior it subscribed to 250.0 million shares during the scheme, with the transaction due to settle on August 12.
The mineral explorer intended to raise a total of GBP575,000 from the placing and subscription.
Shares in Kodal were down 15% at 0.070 pence each in London on Tuesday afternoon.