RE: New significant shareholder17 Apr 2023 17:49
Sounds very good news to me (even if they did get them cheap), I would suggest they may even be adding to their holding.
GLA SR
RNS Number : 4811W
Keras Resources PLC
17 April 2023
Keras Resources plc ('Keras' or 'the Company')
Holdings in the Company
Keras announces that it was notified on 13 April 2023 by Chris Grosso from Kershner Grosso & Co. ('Kershner Grosso'), a Saratoga Springs, New York State based Investment Advisor that it had acquired First Uranium Resources Ltd's (CSE: URNM) (KMMIF:OTC) ('First Uranium') entire holding of 8,000,000 ordinary shares of 1 pence each in the Company ("Ordinary Shares") in an off-market trade at 2.5p per Ordinary Share. Post the announcement of 13 March 2023 stating that AxCap Ventures Inc ('Axcap') had sold its entire 5,610,000 shareholding in the Company, neither First Uranium nor Axcap hold a notifiable interest in the Company's issued share capital.
Chris Grosso will hold the shares on behalf of Kershner Grosso which manages in excess of USD400mn on behalf of its clients, investing in businesses in the junior resource sector which tend to be long-term in nature with Kershner Grosso providing ongoing support and guidance as dictated by each management group, until the full value of each asset is realised. Most recently, Kershner Grosso was the largest shareholder in Silvercrest Metals Inc, a Canadian precious metals exploration and production company headquartered in Vancouver, BC with its flagship asset Las Chispas Mine, in Sonora, Mexico. Kershner Grosso clients remain large shareholders in Silvercrest and have seen Silvercrest's share price grow from USD0.10 at the time of its spin out and initial private placement to its current price of over USD7.00.
The Keras Board is very pleased to have Kershner Grosso on board as a cornerstone shareholder. Kershner Grosso's investment philosophy is very much aligned with Keras's growth strategy in the US and the relationship is expected to provide access to new markets and opportunities throughout North America.