RE: SP on sign off22 Sep 2025 09:25
Various questions relating to Tulu Kapi financing
Q: Does the Tulu Kapi finance plan include all the capital required to fund all capex, all fees and financing charges, all requirements to set aside contingency provisions and cash reserves and anything else payable?
A: Yes.
Q: Do the offshore banking arrangements provide full transparency of disclosures to the Ethiopian regulators including central bank?
A: Of course. How else would KEFI and all other project parties including Government agencies as contractor and shareholder plus multi-lateral development banks with Ethiopia as member country conceivably wish to operate! The question itself is strange to put it mildly.
Q: Do KEFI and the operating company TKGM get credit in Ethiopia for all past spending?
A: Yes, in all respects.
Q: Is the company aware of the “minimum market cap” thresholds of large investment institutions? And can you inform shareholders?
A: We do not know all institutions and all their rules. As a general guide, we believe that Tier 1 institutions would rarely consider investing in a company with sub-$100 million market cap and most would like companies to also plan for a main board listing. KEFI has above-average liquidity and above-average upside-leverage. So we think we are reasonably well positioned in respect of this matter as we now advance through our business milestones.
Posted 22 September 2025