RE: Cash?6 May 2026 15:53
It's all explained in the original funding transaction RNS, the most appropriate bit copied below. As at the last set of accounts, repayment of the loan to Kodal is still outstanding and is part of over £6m now owed to Kodal
Through the KMUK Funding Transaction, Kodal's new subsidiary, KMUK, will become the indirect owner of Bougouni and the Hainan Group will acquire a 51% shareholding in KMUK by way of a US$94.34 million (£77.3 million) share subscription. The Hainan Group will at the same time extend a US$5.66 million (£4.6 million) loan to KMUK (the "KMUK Loan").
· The proceeds from the KMUK Loan will be used by KMUK to partially repay to Kodal the loan from Kodal to KMUK representing capital invested by Kodal in the development of Bougouni to date.