Kazera proposes shareholder return after Aftan settlement

(Sharecast News) - Kazera Global said on Friday that it intended to return about 80% of the net cash proceeds from its $10.5m Aftan settlement to qualifying shareholders through a proposed contingent value rights programme. Shares are expected to trade ex-entitlement from 31 July, with shareholders on the register on 3 August intended to receive rights to future distributions independently of whether they subsequently retain their Kazera shares.

The AIM-traded company said shareholders could receive a single distribution in early 2027 if Hebei settles early for $9.0m by the end of 2026, or three distributions in early 2028, 2029 and 2030 under the agreed instalment schedule.

The remaining settlement proceeds are expected to be retained for working capital, investment and development of Kazera's portfolio, with all distributions subject to receipt of funds and legal and regulatory requirements.

At 1137 BST, shares in Kazera Global were up 5.78% at 1,69p.

Reporting by Josh White for Sharecast.com.

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