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Keras Resources ( (GB:KRS) ) has provided an update.
Keras Resources plc announced the results of its Open Offer, which closed on 13 August 2025, with valid acceptances received for 10,770,173 Offer Shares, representing a 28.22% take-up. The funds raised will be used to partially repay convertible loan notes (CLNs), with the remaining balance converted into shares, significantly increasing the shareholding of Christopher Grosso and Joseph Carbone. The General Meeting also approved all resolutions, including a Rule 9 Waiver Resolution, allowing the Concert Party to hold more than 30% of voting rights without triggering a mandatory offer. This development is expected to bolster Keras’s financial position and enhance its market presence.
More about Keras Resources
Keras Resources plc, listed on AIM as KRS, wholly owns the Diamond Creek organic phosphate mine in Utah, US. The mine is recognized as one of the highest-grade organic phosphate deposits in the US and operates as a fully integrated mine-to-market operation, producing a variety of organic phosphate products tailored to customer organic fertilizer requirements. The company is focused on increasing its market share in the growing US organic fertilizer market and aims to establish Diamond Creek as the premier organic phosphate producer in the US.
Average Trading Volume: 172,719
Technical Sentiment Signal: Sell
Current Market Cap: £1.34M
Find detailed analytics on KRS stock on TipRanks’ Stock Analysis page.