Kenmare able to proceed with capital restructuring

Aim-listed Kenmare Resources announced on Friday that it had secured new equity commitments of $275-million, enabling the company to commence with capital restructuring and an open offer. This offer comprised $100-million in a cornerstone placing, $145.7-million cash commitments under a firm placing, and $29.3-million under a lender underwriting. The issue price was $3.132 per new ordinary share, equivalent to 1.566c before the impact of the proposed 1 for 200 consolidation.