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Kazera Global PLC (KZG)

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Friday 24 December, 2021

Kazera Global PLC

Postponement of Results and Trading Update

RNS Number : 6697W
Kazera Global PLC
24 December 2021
 

24 December 2021

Kazera Global Plc

Postponement of Results and Trading Update

 

Kazera Global Plc ("Kazera Global", "Kazera" or "the Company"), the AIM quoted investment company, announces that pursuant to the guidance provided by AIM Regulation in "Inside AIM" on 27 January 2021, AIM Regulation has granted the Company an additional period of up to three months until 31 March 2022 to publish its Annual Report and Accounts for the year ended 30 June 2021, rather than by 31 December 2021.

 

The extension to the publication of the Company's full year results is a consequence of the impact of Covid-19 in Kazera's countries of operations on the ability of the Company's auditors to access all required information on a timely basis. Despite the logistical challenges presented by Covid-19, the Company is pleased to confirm that the audit process is currently being finalised.

 

The Company expects to release its full year results for the 12 month-period ended 30 June 2021 during February 2022 and provides the following trading update below.

 

Unaudited Key Financials

· Income for the year to 30 June 2021   55k

· Loss for the year to 30 June 2021   1,164k

· At 30 June 2021, cash at bank amounted to    47k

· Group Total Current Assets at 30 June 2021    215k

· Group Overall Net Assets at 30 June 2021   2,892k

 

Year End Summary

Like most other businesses, Kazera has had a number of operational issues to overcome this year. Despite these obstacles Kazera has progressed promisingly throughout the year and is now successfully processing diamonds in accordance with its original business plan.

 

The Company's balance sheet has subsequently increased since 30 June 2021 as a result of warrants totaling £288,250 exercised over the period. Cash has been made available as a result of the loan facility referred to in the Company's RNS of 27 October 2021.  Cash currently stands at £30,000 with £103,500 of the Loan Facility still available for drawdown. In addition, the Company has commitments from shareholders to exercise a further £150,000 of Warrants. In December the Company sold over R1,000,000 worth of diamonds and anticipates ongoing significant revenue from both its diamond and Tantalum operations in 2022. In light of this the Directors of the Company consider that it continues to trade as a going concern.

 

 

 

 

 

 

 

For further information on the Company, visit:  www. kazeraglobal .com

 

Kazera Global plc (c/o Camarco)

Dennis Edmonds (CEO)

Tel: +44 (0)203 757 4980

 

finnCap (Nominated Adviser and Joint Broker)

Christopher Raggett / Tim Harper (Corporate Finance)

 

Tel: +44 (0)207 220 0500

 

Camarco (PR)

Gordon Poole / James Crothers / Hugo Liddy

 

 

    Tel: +44 (0)20 3781 8331

 

**ENDS**

About Kazera Global

Kazera Global is an investment company focused on opportunities principally, but not exclusively in the resources and energy sectors. The Company's first investment was in African Tantalum, a Namibian based operation of which it now owns 100%, followed in June 2020 by the acquisition of its South African diamond and mineral sands assets.

 

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