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Kingsgate Consolidated Ltd's Thai subsidiary, Akara Resources Public Company Limited Submits Draft Prospectus And Listing Application To Thai Authorities

Sunday, 22 Sep 2013 08:24pm EDT 

Kingsgate Consolidated Ltd announced that its Thai subsidiary, Akara Resources Public Company Limited (formerly Akara Mining Limited) (“Akara”) has submitted its listing application and draft associated documents (Prospectus) to the Thai Securities Exchange Commission (SEC) and the Stock Exchange of Thailand (SET) for an initial public offering (IPO) of its shares on the SET. The SEC and SET will review the Akara Thai language Prospectus in the coming months in order to approve the listing of Akara. The board’s decision to proceed to list Akara and valuation metrics will depend on market conditions and other factors at the time of approval. If the IPO proceeds, Kingsgate will retain a 49% interest in Akara, will continue to support the operation and management of the Chatree Gold Project on commercial terms pursuant to a long term Management Agreement with Akara, and will have a majority of directors on the Akara board. The SEC will publish our draft Thai language Prospectus, which is in respect of the Thai offering on its website. 

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3 Jul 2015