RE: Up we go...18 Jun 2020 11:48
Found this...so now we know...
KGI is an active shareholder of EMH for years. KGI was the first shareholder to propose cooperation with CEZ as strategically important for speedy and successful development of this project. CEZ as a leading energy company in CEE region, based in Czech Republic, has all the necessary instruments, capital and expertise to become relevant partner for EMH. Based on KGI´s local experience and knowledge, CEZ’s investment was the only logical step to move forward with Cinovec project and get all the necessary approvals and capital to lead this project to successful mining process within couple of years. KGI welcomes definitive agreement with CEZ to fund Cinovec project up to DFS (definitive feasibility study) and to become 51% owner of GEOMET s.r.o., direct subsidiary of EMH. Upon successful VTO, KGI has intention to become significant long-term investor in EMH (Cinovec Project as whole).
KGI as a Czech Investor would like to increase its stake and add value to Cinovec project via our local knowledge and know-how. KGI would act as strong partner.
Due to the low market liquidity at London Stock Exchange (AIM) where EMH is listed, KGI decided to launch VTO for outstanding shares of EMH. Average daily trading volume in London at EMH is approximately 200.000 shares which is too small to increase KGI´s position significantly via market.