Kazera Global Launches £500K Raise at 2p Premium

Kazera Global plc has launched a £500,000 fundraising initiative through a share placement and subscription priced at 2 pence per share, representing a 2.6% premium over its prior market close, according to an Investing.com report. The capital raise aims to improve liquidity while restructuring executive and supplier obligations ahead of a shareholder vote.

The transaction is structured to split the target evenly between an accelerated bookbuild and a direct subscription, utilizing sole broker Zeus to manage the institutional placement.

Transaction Structure and Pricing Terms

The fundraising comprises approximately 25 million new ordinary shares issued at 2 pence each. The placing seeks to raise about £250,000 via roughly 12.5 million new shares managed by Zeus, while the subscription accounts for the remaining £250,000 through an identical volume of shares.

The 2 pence issue price represents a premium of approximately 2.6% compared to the closing mid-market price of 1.95 pence recorded on September 2. Additionally, the company secured an indication of interest from an outside investor for a further subscription of about £220,000 at the same issue price, though a binding commitment has not yet been finalized.

Board and Supplier Commitments

Beyond the primary capital raise, Kazera Global is addressing outstanding liabilities by issuing new shares to key stakeholders in lieu of cash payments.

• Non-executive chairman Geoffrey Eyre intends to settle accrued fees through new shares issued at the 2 pence price.
• An aggregate of £62,000 owed to an external supplier and a consultant will similarly be satisfied via share issuances.

Conditions and Timeline

The completion of the fundraising remains strictly conditional on the approval of resolutions by shareholders at a general meeting scheduled for 10:00 a.m. on September 21. If approved, admission and completion of the new ordinary shares are expected to take place on or around September 22.