Kodal Minerals receives £1.2m from Suay Chin subscription

West Africa-focussed exploration and development company Kodal Minerals announced on Tuesday that the proceeds of the £1.2m subscription for ordinary shares by Suay Chin had now been received.

The AIM-traded firm said that as a result, application had been made to the London Stock Exchange for the subscription shares to be admitted to trading on AIM, which was expected to become effective on or around 29 June.

“Following admission, Suay Chin will hold 2,227,971,568 ordinary shares, representing 29% of the company's enlarged share capital,” the board confirmed in its statement.