Result of General Meeting
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KEFI (AIM: KEFI), the gold and copper exploration and development company focused on the Arabian-Nubian Shield, with a pipeline of projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, is pleased to report that all Resolutions were passed at the General Meeting of the Company ("GM") held today at 12.00pm AEDT in Australia.
Following the passing of the Resolutions, an application has been made for the 933,169,817 Placing, Subscription and Remuneration Conditional Shares, to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective on or around 8.00 a.m. on 3 January 2025.
GM Statement
At the conclusion of the GM, Harry Anagnostaras-Adams, Executive Chairman of the Company, made the following brief statement highlighting the exciting outlook for the Company:
"Following today's approvals, I am pleased to welcome several notable international investors to the KEFI share register. These shareholders join us at an exciting time with the full funding package for the Tulu Kapi Gold Project to close this quarter.
"During December 2024 project Early Works were essentially completed, our long-standing banks set out the final terms and conditions of the now-enlarged US$240 million secured debt capital facility, the project equity capital terms were consequently refined amongst the identified regional and sector-specialist investors, and the Government approved and proceeded to submit to Parliament for fast-track ratification AFC's Country Membership.
"The Company has already triggered final certification of project readiness, enabling full project launch and commencement of Major Works, which includes community resettlement, procurement and major construction.
"I look forward to updating shareholders over the coming weeks with our progress with respect to financial close and preparation of Major Works, as well as other potential developments on KEFI's other assets."
Webinar
A webinar will be held in February 2025 and details will be published in due course.
Result of GM
All resolutions were passed at the GM and the votes cast were as follows:
| Votes For | % For | Votes Against | % Against | *Votes Withheld | |
|---|---|---|---|---|---|
| 1. To authorise the Directors pursuant to Section 551 of the Companies Act 2006 (the "Act") to allot shares and grant rights to subscribe for shares | 1,353,296,857 | 82.8% | 280,443,786 | 17.2% | 8,501,127 |
| SPECIAL RESOLUTIONS | |||||
| 2. To authorise the Directors under Section 570 of the Act to allot equity securities (within the meaning of Section 560 of the Act) as if Section 561 of the Act did not apply to such allotment | 1,327,249,930 | 81.2% | 306,569,233 | 18.8% | 8,422,607 |
Total Voting Rights
Following Admission, the total issued share capital of the Company will consist of 7,980,754,790 Ordinary Shares each with voting rights. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company will be 7,980,754,790 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Capitalised terms used in this announcement shall, unless defined in this announcement or unless the context provides otherwise, bear the same meaning ascribed to such terms in the announcement made by the Company at 4.44 p.m. on 2 December 2024.
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