Millenium Kapital head towards IPO as they acquire 100% of Paramount Capital Advisors

Please find below an update of the key ongoing developments and progress as we head towards the IPO for Millenium Kapital Ltd.

1. Millenium Kapital Ltd (BVI) (MKL) has acquired 100% of the share capital of Millenium Kapital (Africa) Limited (MKLA) in Sierra Leone, which was formerly known as Paramount Capital Advisors Limited.  MKLA’s Directors at this point of time are Franklyn Kargbo who is our local Director and Cyril D’Silva. The company secretary is Ms Lina Tirado. MKLA is now in the process of lodging the application for the  Zimmi Mining Tenements  and expects to have this completed by mid-October 2019. A desktop survey and some ground geological work has to be done before official submission. The work is being headed by our Technical Consultant Mr. Alimamy R. Wurie and our Exploration and Technical Manager Hassan Kargbo.
2. Our legal advisers in London, Hill Dickinson has begun working with Computershare UK our designated UK share registry and Walkers Singapore who are our legal counsel for BVI to admit the shares into CREST.  CREST is the UK share depository similar to CHESS in Australia and the Central Depository in Singapore. Our target is to have all shares electronically lodged into CREST in order for them to be reflected in your account with your stock brokers by the end of October 2019. It is important that all investors have their stockbroking accounts opened by mid-October 2019 so that shares can be deposited electronically as soon as the CREST is approved.
3. Work on the draft prospectus is expected to start in mid-October 2019.
4. At the request of a few potential pre-IPO Investors, MKL is in the process of getting an OIS document (Offer Of Investment in Shares) lodged and approved with ASIC to continue our pre-IPO raising and to reach a larger audience. We expect to have this document lodged at the end of September.
5. MKL is expected to officially contact the National Stock Exchange of Australia sometime end September through our legal advisers in Australia, Price Sierawoski Corporate to communicate to them our intention to do a dual listing for MKL on both the London Stock Exchange and the National Stock Exchange of Australia. To the best of our knowledge, the shares in Australia will be traded by CDI’s (Certificate of Depository Interest). A more comprehensive update will be provided once we have more details on this.
6. MKL has appointed Mr Rosli Abdul Ghani (ICPS) as our Regional Representative for South-East Asia, together with our Executive Chairman they attended an investor presentation last August in Kuala Lumpur to target such audience.
7. MKL will be holding an investor presentation in Johor Bahru, West Malaysia on the 18th of September 2019 to attract potential investors at the pre-IPO level.
8. The Board of MKL will be showcasing at Emergence Singapore 2019 on 20th of September 2019 at Marina Bay Sands. The event is organised by Wholesale Investor Australia.
9. The Board has decided to keep the pre-IPO open and raise as much of the GBP 1.8540 million as possible in the pre-IPO stage and execute the 25% of the share capital raise during the Prospectus stage so that the Company can close the Prospectus offer shortly after issuing the disclosure document. It is a requirement of the London Stock Exchange that 25% of the raising is done between UK and EU shareholders, with each shareholder holding no more than 5% of the company.  Additionally, it is a requirement of the National Stock Exchange of Australia that we have a minimum 50 shareholder spread to qualify for a listing. At the moment we have 35 shareholders.
10. We will circulate a copy of the OIS document as soon as it is lodged and approved by ASIC and we would greatly appreciate if you could circulate the document among your friends and family. We have intentionally put our focus during the pre-IPO and IPO stage on retail investors as it is the best way to keep the share price steady post-IPO in the first few months.

Thank you for your continued support for MKL and our IPO.

About Millenium Kapital Ltd

MKL works with experienced investors looking to grow their portfolios, along with guiding first-time investors new to the market in establishing a portfolio which will generate the highest return with mitigated risks.

We are currently represented in Perth by Millenium Kapital Investments Pty Ltd and in Singapore by Millenium Kapital Limited Pte Ltd.

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