All passed is ok!17 Feb 2020 07:13
This is great news expect funds shortly what’s the problem?
17 February 2020
KEFI Minerals plc
("KEFI" or the "Company")
TKGM General Meeting Approves All Resolutions
KEFI Minerals (AIM: KEFI), the gold exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, is pleased to advise that, further to the Company's announcement on 30 January 2020 in relation to the Company's Tulu Kapi Gold Project (the "Project"), the scheduled General Meeting of Tulu Kapi Gold Mines Share Company ("TKGM") has been held with all resolutions passed.
Following the passing of the resolutions at the TKGM General meeting, arrangements will now proceed for the closing of the first subscription funds from the private sector partner ANS Mining Share Company ("ANS") to TKGM in accordance with agreed documentation and standard local procedures, beginning with the notarisation and registration of the approved shareholder resolutions with the Ethiopian Department of Trade. Closing with the Ethiopian Government sector partner had already occurred. As previously announced, the total ANS commitment is US$38 million with the first US$9.5 million (Ethiopian Birr equivalent) being unconditional and subsequent amounts in accordance with the conditions previously outlined.