20th Nov 2019 15:24
(Alliance News) - Keras Resources PLC on Wednesday said the High Court of Justice has approved cancellation and repayment of all the mineral resource company's deferred shares.
Shares in Keras were down 28% at 0.34 pence in London on Wednesday afternoon.
In addition, 0.9p of the capital has been paid up on each ordinary 0.1p Keras share. As such, while the number of ordinary shares in issue remains the same, Keras shareholders now hold ordinary shares of 0.01p each.
With court approval obtained, Keras can now continue with its transfer of 723.8 million shares in Calidus Resources Ltd held by Keras, its entire 34% stake, to eligible shareholders. Shareholders will receive 1 share in Australian-listed gold explorer Calidus share for every 3.452 new ordinary Keras shares.
By Anna Farley; [email protected]
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