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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Kazera Global Plc | LSE:KZG | London | Ordinary Share | GB00B830HW33 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.025 | -4.17% | 0.575 | 0.55 | 0.60 | 0.60 | 0.575 | 0.60 | 333,333 | 12:30:39 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Miscellaneous Metal Ores,nec | 55k | 6.71M | 0.0072 | 0.79 | 5.34M |
TIDMKENV
RNS Number : 1251D
Kennedy Ventures PLC
25 March 2014
Kennedy Ventures plc
Board Appointments and Placing
Placing of new ordinary shares
Kennedy Ventures plc ("Kennedy Ventures" or "the Company") announces that it has successfully raised a total of GBP489,375 (before expenses) through a placing of new ordinary shares ("Placing Shares") in the Company (the "Placing").
The Placing will be effected by the issue of 39,150,000 Placing Shares to new and existing investors at a price of 1.25 pence per Placing Share.
Application has been made for 39,150,000 new Ordinary Shares, which will rank pari passu in all respects with the existing Ordinary Shares of the Company, to be admitted to trading on AIM ("Admission"). Admission is expected to be effective from 8.00 a.m. on 28 March 2014.
Following Admission of the Placing Shares the total issued share capital of the Company is 66,248,000 Ordinary Shares, each with voting rights.
New Board appointments
The Company is also pleased to announce the appointment of Giles Clarke as Chairman and Nick Harrison as a Director of the Company with immediate effect.
Giles Clarke is currently Chairman of Amerisur Resources plc (AIM: AMER) and Westleigh Investments Holdings Limited and Non-executive Chairman of Ironveld plc (AIM: IRON). He began his career as an investment banker with Credit Suisse First Boston before successfully establishing, building and selling a number of high profile businesses including Majestic Wine, Pet City plc and Safestore plc. He is Chairman of the England and Wales Cricket Board and Chairman of several private organisations.
Mr Harrison is currently Finance Director of Amerisur Resources plc (AIM: AMER) and a Non-executive Director of Ironveld plc (AIM: IRON). Mr Harrison was Finance Director of Pet City plc and has held Board positions at a number of private companies with international activities. He is a Chartered Accountant, having qualified with Arthur Andersen before holding senior roles with Deloittes, Midland Bank (International) and Coopers & Lybrand.
Following the appointment of Giles Clarke as Chairman, Peter Redmond will remain a Director of the Company.
Both Amerisur Resources plc and Ironveld plc have performed with great success in the natural resources sector since Giles Clarke and Nick Harrison were appointed as directors. The market capitalisation of Amerisur Resources plc has increased from approximately GBP25 million in 2007, when they were appointed, to in excess of GBP650 million at the current time. Ironveld plc is currently trading at a significant premium to the share price in August 2012, when the company was re-admitted to trading on AIM.
Giles Clarke and Nick Harrison have participated in the Placing as set out below:
Director Placing Beneficial Interest Shares post-Placing ---------------- ---------- ---------------------- Nick Harrison* 4,800,000 4,800,000 7.2% ---------------- ---------- -------------- ------ Giles Clarke* 4,800,000 4,800,000 7.2% ---------------- ---------- -------------- ------
* In addition, Westleigh Investments Holdings Limited, a company in which Mr Clarke and Mr Harrison hold a beneficial interest of 73.28% and 26.72% respectively, holds 7,600,000 Ordinary shares, representing 11.5% of the Company.
Peter Redmond, Director of Kennedy Ventures, commented:
"I am pleased to announce today's equity refinancing which will give the Company the resources needed to attract and review a significant investment or acquisition in line with its investment policy. The costs incurred in clearing away the its historic problems left it under-resourced and the successful Placing has resolved that issue.
We are also very pleased the appointment of Giles Clarke and Nick Harrison to the Board of Kennedy Ventures and that they have agreed to join in the Placing to a significant degree, thus aligning their interests with that of other investors and shareholders. They bring a range of experience and expertise that we believe will greatly enhance our prospects of finding and completing an attractive transaction to create value for our shareholders."
For further information, please contact:
Kennedy Ventures plc Peter Redmond, Director +44 (0) 0207 580 7576 Cenkos Securities plc Derrick Lee / Alan Stewart +44 (0) 131 220 6939 Peterhouse Corporate Finance John Levinson +44 (0) 207 469 0935
In relation to the appointments of Mr Clarke and Mr Harrison, the Company confirms that there is no further information to be disclosed under paragraph (g) of Schedule 2 of the AIM Rules for Companies save as disclosed below:
Full name: Charles Giles Clarke John Nicholas Harrison Age: 60 55 Shareholding 4,800,000 Ordinary 4,800,000 Ordinary in the shares, representing shares, representing Company: 7.2% of the Company's 7.2% of the Company's issued share capital issued share capital In addition, Westleigh In addition, Westleigh Investments Holdings Investments Holdings Limited, a company Limited, a company in which Mr Clarke in which Mr Harrison holds a beneficial holds a beneficial interest of 73.28%, interest of 26.72%, holds 7,600,000 holds 7,600,000 Ordinary shares, Ordinary shares, representing 11.5% representing 11.5% of the Company. of the Company. Current Directorships: * Amerisur Resources plc * Amerisur Resources plc * Ironveld plc * Ironveld plc * ATL Telecom Limited * Fosters Rooms Limited * ATL Telecom Limited * M J Associates Limited * RAM (102) Limited * Westleigh Investments Limited * The Boston Tea Party Group Limited * Westleigh Investments Holdings Limited * The Boston Tea Party Limited * Makura Sport Limited * Clark Clay Industries Limited * Abattia Group Limited * Trufflenet Limited * England and Wales Cricket Board Limited * West Country Business Systems Limited * West Country Business Systems Limited * West Country Business Systems (Holdings) Limited * West Country Business Systems (Holdings) Limited * Fanvil (UK) Limited * Designspin Limited * Edvectus Limited * Westleigh Investments Holdings Limited * M J Associates Limited * England and Wales Cricket Trust * International Cricket Council * Edvectus Limited Previous * RAM 106 Limited Directorships * RAM 106 Limited / Partnerships in the last 5 years: * All Mass Cladding Systems Limited * All Mass Cladding Systems Limited (Formerly a non-executive (Formerly a non-executive director and resigned director and resigned on 19 October 2011. on 19 October 2011. Subsequent to this Subsequent to this resignation, the resignation, the directors of the directors of the company appointed company appointed an administrator an administrator to oversee the company's to oversee the company's affairs on 24 February affairs on 24 February 2012) 2012) * Pure Wafer International Limited * Pure Wafer plc * The Pure English Alpaca Company Limited * Clifton Down Charitable Trust Limited Other disclosures: * Mr Clarke was formerly Chairman of Majestic Wine Corporation (MWC) in the US. Subsequent to his resignation in May 1988, MWC filed for protection under Chapter XI of the US Bankruptcy Code.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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