Kazera Global (AIM:KZG) shares dropped 7.9% to 1.2p after it extended an unsecured loan from its CEO and secured up to £500,000 additional funding under the existing facility.
The company, an AIM‑quoted diversified commodity investment company focused on production growth in South Africa's Northern Cape, said the total outstanding under the existing loan before the variation was £187,880 and that a separate lender, Tracarta, has £436,128 due to mature on 30 April.
The revised terms envisage initial drawdowns of £50,000 on or around 1 May and £50,000 on or around 1 June, further tranches at the lender's discretion up to the £500,000 aggregate limit, fixed interest of £18,788 (being 10% of the Loan Balance) plus 10% of any additional amounts drawn, and full repayment of amounts outstanding on 1 December.
"We are very pleased to have secured this additional funding support from our CEO and largest shareholder Richard Jennings, which provides the Company with increased liquidity as we advance the Company's clear strategic priorities," said Geoff Eyre, Non‑Executive Chairman.
