Celtic Resources Holdings Plc
7�Oct�2005
Placing of Ordinary Shares and Warrants
Kerman & Co LLP advised Celtic Resources Plc on its placing of 2.84 million new ordinary shares at 200p per share with Altima Global Special Situations Master Fund Limited and Altima Global Opportunities Master Fund Limited to raise US$10 million (approximately �5.68 million) Altima will also be issued with warrants to subscribe for approximately 2.84 million further ordinary shares at 250p per share, subject to shareholder approval.
The placing will be used for working capital purposes, including increasing production at the Suzdal gold mine in Kazakhstan.
Kerman & Co also acted for Celtic Resources on its admission to AIM in October 2002.
The Kerman & Co team was led by Daniel O�Connell, assisted by Joan Yu and Cormac Lloyd.
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