Shefa Gems Ltd Delay in Annual Financial Report (8479J)

TIDMSEFA

RNS Number : 8479J

Shefa Gems Ltd

29 April 2022

29 April 2022

Shefa Gems Ltd.

("Shefa Gems" or the "Company")

Delay in the publication of Audited Financial Statements for the year ended on 31 December 2021

Shefa Gems Ltd (LSE: SEFA) hereby gives notice that in accordance with the guidance issued by the Financial Conduct Authority and Financial Reporting Council, it will publish its final results and annual report and accounts for the year ended 31 December 2021 by 31 May 2022.

- Ends -

Enquiries

 
 Shefa Gems Ltd 
 Alon Shani - Chairman    [phone] 
                         ----------------- 
 
 

Notes to Editors

About Shefa Gems Ltd

Shefa Gems Ltd (LSE: SEFA) was previously engaged in the exploration and mining of gemstones in Northern Israel, operating multiple exploration sites located across the Kishon River catchment area of Haifa and Mt Carmel. Following a strategic review, it was determined that the Company could no longer justify the costs of being a listed company, and that any future funds raised on the basis of exploration activity should be entirely dedicated to the development of mining activity. On 1 June 2021, the Company announced an agreement with the "Shany Group," a consortium of investors led by Mr. Alon Shany and Ms. Eva Abittan, wherein the Shany Group and other unrelated parties would pay an amount of approximately GBP 756,000 in return for a subscription to approximately 85% of the Company's issued share capital. Additionally, the Company would transfer all of its exploration and mining assets to its formerly wholly-owned subsidiary, Shefa in Israel (G.M.) Ltd (the "Subsidiary", a private company registered in Israel) and distribute ownership of the Subsidiary to all of the Company's existing Shareholders via a dividend in specie. The transaction was approved by the Company's shareholders on 9 August 2021. The dividend in specie has yet to be completed and the shares of the Subsidiary are held by a trustee.

For further information please visit the website at https://www.shefagems.com/lse

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

ACSGLGDSBSDDGDC

(END) Dow Jones Newswires

April 29, 2022 02:43 ET (06:43 GMT)