10th Apr 2019 15:32
LONDON (Alliance News) - Shanta Gold Ltd on Wednesday said it is proceeding with a buyback of USD4.9 million of notes held by third parties.
Shares in the east-Africa focused gold producer, explorer, and developer, were up 2.9% at 7.00 pence each on Wednesday afternoon.
The buyback represents 33% of the notes that are held by third parties and has been approved by the holders of Shanta's unsecured subordinated convertible loan notes due April 2020.
The remaining USD9.8 million notes will remain outstanding with third parties and are not redeemable until April 2020.
Related Shares:
SHG.L