Kazera Global (KZG)

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1.20p
   
  • Change Today:
    -0.025p
  • 52 Week High: 1.30
  • 52 Week Low: 0.33
  • Currency: UK Pounds
  • Shares Issued: 963.71m
  • Volume: 1,098,056
  • Market Cap: £11.56m
  • RiskGrade: 303
  • Beta: 0.62

Kazera secures £0.5m facility with two large shareholders

By Josh White

Date: Friday 09 Aug 2024

LONDON (ShareCast) - (Sharecast News) - Investment company Kazera Global announced the securing of a £0.5m debt facility on Friday, with its two largest shareholders, Richard Jennings and Tracarta.
The AIM-traded firm said the funds would be used to finance the cash component of its recent agreement with Tectonic Gold, as well as to provide working capital as Kazera advanced its Deep Blue Minerals (DBM) and Whale Head Minerals (WHM) operations towards production and revenue generation.

It said the loan facility was split into two unsecured term loans - £0.15m from Richard Jennings and £0.35m from Tracarta.

The loans carried a fixed interest rate of 12%, with the option for lenders to convert interest payments into Kazera shares at a price of 1p per share.

Kazera said the loans were set to mature on or before 30 October 2025.

Funds would be made available in four tranches starting on 11 August 2024, and continuing monthly until 25 October 2024.

In addition to the loans, the lenders would receive warrants to subscribe for new Kazera shares at 1p apiece, with a potential adjustment to the exercise price if the company issued equity at a lower price within two years.

The agreement with Richard Jennings was classified as a related party transaction under the AIM rules, given his status as a significant shareholder.

After consulting with their nominated adviser, Kazera's directors concluded that the terms of the loan were fair and reasonable for the company's shareholders.

"I am grateful to both Richard Jennings and Tracarta for making these funds available to Kazera in order to make it possible to complete the WHM and DBM deals, and give us what we anticipate being sufficient cash cover to take the company into being cash generative," said chief executive officer Dennis Edmonds.

"The board feels very strongly that raising equity at anywhere near the current levels in the present market would not be in the interest of shareholders as it does not remotely reflect the expected immediate opportunity from our South African operations."

At 1039 BST, shares in Kazera Global were up 12.5% at 0.45p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Kazera Global Market Data

Currency UK Pounds
Share Price 1.20p
Change Today -0.025p
% Change -2.04 %
52 Week High 1.30
52 Week Low 0.33
Volume 1,098,056
Shares Issued 963.71m
Market Cap £11.56m
Beta 0.62
RiskGrade 303

Kazera Global Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
79.22% above the market average79.22% above the market average79.22% above the market average79.22% above the market average79.22% above the market average
66.29% above the sector average66.29% above the sector average66.29% above the sector average66.29% above the sector average66.29% above the sector average
Price Trend
88.92% above the market average88.92% above the market average88.92% above the market average88.92% above the market average88.92% above the market average
84.00% above the sector average84.00% above the sector average84.00% above the sector average84.00% above the sector average84.00% above the sector average
Income Not Available
Growth
24.32% below the market average24.32% below the market average24.32% below the market average24.32% below the market average24.32% below the market average
9.68% below the sector average9.68% below the sector average9.68% below the sector average9.68% below the sector average9.68% below the sector average

Kazera Global Dividends

No dividends found

Trades for 21-Nov-2024

Time Volume / Share Price
16:11 182,273 @ 1.20p
10:29 104,394 @ 1.24p
09:49 30,035 @ 1.15p
09:18 130,000 @ 1.18p
09:00 4,971 @ 1.13p

Kazera Global Key Personnel

CEO Dennis Edmonds

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