Kopy Goldfields extends redemption period
Kopy Goldfields AB (publ) (”Kopy Goldfields” or the ”Company”) (listed on Nasdaq First North Growth Market, under the ticker KOPY) extends the acceptance period for the voluntary redemption of shares at a price per share of SEK 0.35. The initial acceptance period, July 3-July 17, is now extended to July 31 to provide an opportunity of acceptance to shareholders that have not yet requested redemption.
On May 24, 2024 the Company’s board of directors proposed a voluntary redemption of up to approximately 17% of the shares in the Company at a price per share of SEK 0.35 (the “Redemption”). The Redemption will entitle all shareholders, except the main shareholders HC Alliance Mining Group Ltd and Magomed Bazhaev, to request Redemption of their shares in the Company from July 3 to July 17, 2024. In case of full participation by minority shareholders, the main shareholders' ownership increases to 100 percent of the shares in the Company. On June 19, 2024 the Company issued an information brochure which includes further background, reasons and risk assessment related to the proposal. The Redemption proposal was approved at the Annual General Meeting (“AGM”) on June 27, 2024.
At the date of the publication of this press release, shareholders holding a total of 60,380,897 shares, approximately 6.7% of the shares in the Company, have accepted and requested to redeem their shares, which implies that the main shareholders’ ownership will increase to approximately 90.24% of the shares in the Company upon completion of the redemption procedure. Thus, the Company intends to apply for a delisting of the shares from Nasdaq First North Growth Market once the redemption procedure is completed. The Company will in due course inform the market when such measures are initiated.
Updated indicative timetable for the Redemption
| July 3-July 31, 2024 | Extended Redemption period during which shareholders may request Redemption |
| July 31, 2024 | Announcement of outcome in the Redemption |
| August 15, 2024 | Indicative payment date on consideration for shares redeemed |
Kopy Goldfields’ information brochure regarding the redemption procedure, the complete proposals and resolutions are available on the corporate website, www.kopygoldfields.com.
This is a translation of the Swedish version of the press release. In case of discrepancies, the Swedish wording shall prevail.