RE: KAV Shareholder Action Group5 Jun 2023 18:10
My previous post point was (as I stated) I hadn't realised and was letting FKC know incase he didn't - it was meant how it reads!
Here's an idea for BT, he said the PureBond deal is the only one on the table (or similar). Just looking at the Warrants at Dec 22 in the Annual Report- Get the share price up and get this little lot cashed in, do what you ought to have done in the first place.
Details of the warrants outstanding as at 31 December 2022 are as follows:
Warrants Exercise price (pence) Grant date Expiry date No of Warrants outstanding
2020 A Warrants 1.00 15 April 2020 28 April 2023 2,375,000
2020 B Warrants 2.50 On exercise of A Warrants 28 April 2023 39,685,875
2020 4.25p Placing 4.25 20 November 2020 20 May 2023 73,483,637
2021 Spectral Warrants 4.25 20 April 2021 20 April 2025 3,000,000
2021 8.5p Placing 8.50 5 July 2021 5 July 2023 39,890,911
2022 5.0p Placing 5.00 9 May 2022 31 December 2023 25,000,000
2022 3.0p Placing 3.00 17 November 2022 17 November 2024 194,444,437
2022 Shongwe Warrants 8.50 17 November 2022 17 November 2024 2,000,000
2022 Tamesis Warrants 3.00 17 November 2022 17 November 2024 8,333,334
2022 Power Warrants 4.25 25 November 2022 28 April 2023 30,000,000
2022 Power Warrants 5.50 25 November 2022 28 April 2023 30,000,000
2022 Power Warrants 3.00 25 November 2022 7 January 2023 15,000,000
Total 462,213,194
I estimated these would have brought in around approx £18.5 million (3 times the amount) (had the all been exercised on time & not allowed to expire) and the dilution is a lot less & would have been far more tolerable than this dreadeful Tamesis PureBond fiasco - why on earth didn't they take this route? The board have totally ignored shareholders who have supported them since the outset and rewarded themselves for total failure to date, if they had been successful, all these warrants would've been issued (along with the others that have expired along the way).
At the time the warrants were issued, their prices did not seem excessive in regard to the placing price at the time and infact should've been an encouragement to the board to do well for the shareholders. Not this fishy sham of a situation as I see it.
Get all the data out to us on assays / drills / precious metals / drilling info etc - get the share price up where it should be (instead of this "worked" death spiral price that you have allowed to occur. Do what you are paid for and have already rewarded yourself handsomely in options etc for - this is what I think.
If anyone replies, I require the following full disclosure please - advise if you are purely an investor like myself (or a trader), or are a related party to KAV / director or family/friend of Kavango / an associated company to Kavango Resources, First Equity, PureBond, Tamesis etc - i.e. if you have a vested interest or association other than simply holding shares as PI's do. Or are both!
Thank you