Kazera Global (KZG): Return of Aftan settlement proceeds

This situation live

£17m · 1.4p · +50% since the first step

20 Jul 2026 · Initial cash received; return not announced · +0% until the next step together with the recent receipt of the US$500,000 under the Hebei Settlement Agreement

Capital return

Return of Aftan settlement proceeds

Programme proposed; CVR terms being finalised

Every step · 4

22 Jun 2026 Intention stated; mechanism not announced – The Board currently intends, subject to legal, tax, working capital and regulatory considerations, to seek to return approximately 80% of net cash proceeds... ↗
7 Jul 2026 Pending receipt of settlement cash – We also remain focused on completing the process for receipt of the initial Aftan settlement payment. ↗
20 Jul 2026 Initial cash received; return not announced – together with the recent receipt of the US$500,000 under the Hebei Settlement Agreement ↗
24 Jul 2026 Programme proposed; CVR terms being finalised – The Company intends that its ordinary shares will trade ex-entitlement from Friday 31 July 2026 (the "Ex-Entitlement Date"), with shareholders recorded on... ↗

What is happening

Kazera Global: Return of Aftan settlement proceeds – Programme proposed; CVR terms being finalised. ['Programme proposed; CVR terms being finalised']

In short: On 22 June 2026 the Board said it intended to return about 80% of net Aftan settlement cash, once the initial US$500,000 arrived. On 24 July 2026 it proposed a contingent value right (CVR) mechanism: ex-entitlement 31 July, record date 3 August 2026. Distributions are a single one in early 2027 if Hebei settles early, or three in 2028-2030; the balance is retained.
Announced: 22 Jun 2026 · Intention stated; mechanism not announced
Latest: 24 Jul 2026 · Programme proposed; CVR terms being finalised
Amount: About 80% of net cash proceeds received under the US$10.5m Aftan settlement
Timing: Record date anticipated in July 2026 (stated 22 June 2026); may slip as payment is delayed
Mechanism: Separate contingent value rights for Qualifying Shareholders, sized by holding at the Record Date; survive later share sales
Conditions: Receipt of proceeds, distributable reserves, any capital reduction, working capital, Board approval; not a declared dividend
Dependency: Initial US$500,000 now received, per 20 July 2026
Timetable: Ex-entitlement 31 July 2026; Record Date 3 August 2026; subject to London Stock Exchange agreement
Payments: One distribution in early 2027 if Hebei settles early at US$9.0m; otherwise early 2028, 2029 and 2030
Retained: Balance kept for balance sheet, working and investment capital

Briefing Pro

What it does, how it got here, what management promised and delivered – written from its own announcements.

From the company's own announcements. Not investment advice.

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