LONDON (ShareCast) - Kennedy Ventures has appointed Giles Clarke as Chairman and raised 489,375 pounds through the placement of new ordinary shares in the investment firm.

The group will issue 39,150,000 placing shares to new and existing investors at a price of 1.25p each.

Clarke will replace Peter Redman who will remain a director of the company. He is currently Chairman of Amerisur Resources and Westleigh Investments Holdings Limited and Non-executive Chairman of Ironveld.

Remond said: "I am pleased to announce today's equity refinancing which will give the company the resources needed to attract and review a significant investment or acquisition in line with its investment policy.”

Shares surged 64.52% to 2.55p at 16:19 on Tuesday.

RD

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