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Keras Resources said it had raised £350k from a share issue to fund costs associated with the distribution of its shareholding in Sydney-listed Calidus Resources and ongoing working capital purposes.
New shares in the company were issued at 0.4p each.
The company said David Reeves and Brian Moritz had also agreed to convert about £459 in loans due to them into new Keras share at the same price as the placing shares.
At 2:42pm: (LON:KRS) Keras Plc share price was -0.03p at 0.46p