Update on Financing for Kabwe Transaction
Delay in funding for Kabwe transaction while lender completes alternate payment arrangements.
- Cash consideration balance due $1.35m
Select text to share a quote on X · sign in to keep highlights & notes in your SKA notes
Further to the Company's announcement on 4 September 2025, Gathoni Muchai Investments Limited ("GMI") has informed the Company that remittance of the funds, pursuant to the increased loan entered into on 30 June 2025, to be used to satisfy the $1.35m balance of cash consideration due to the LEM vendors, has experienced a further slight delay, while they complete alternate means to expedite payment. GMI have confirmed to the Company that they expect to resolve these matters prior to the end of September 2025. GMI have further confirmed to the Company their financial capacity to meet their obligations under the increased GMI loan facility.
The Company remains committed to finalising the LEM transaction utilising the non-dilutive and favourable terms available under the GMI facility.
A further announcement will be made in due course.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.