RE: RNS21 May 2024 07:09
Issue of Shares to Advisers
KEFI (AIM: KEFI), a gold and copper exploration and development company focused on the Arabian-Nubian Shield with a pipeline of projects in the Federal Democratic Republic of Ethiopia, and the Kingdom of Saudi Arabia, announces an issuance of 177,981,851 new ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary Shares") (the "Adviser Issued Shares") at a price of 0.763 pence per Ordinary Share (the "Issue Price"). The Issue Price is equal to the mid-market closing price of the Ordinary Shares on 20 May 2024.
The Adviser Issued Shares, with a total value of £1,358,002, have been issued to certain key advisers to the Company in consideration for their services to support various value-adding initiatives which now need to be addressed following yesterday's launch of the Early Works Programme at the Company's Tulu Kapi Gold Project in Ethiopia.