Kingswalk has appointed Kishore Gopaul and Roderick Gentry as the two new non-executive directors to the board of Kingswalk, with immediate effect. Currently, both Gopaul and Gentry are directors of European Wealth.
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The company has also announced that it has raised GBP700, 000 at a subscription price of 0.75 pence per subscription share and the issuance of 93,333,333 new ordinary shares.
The subscribers for the subscription shares include directors and staff of European Wealth and the subscription monies will be used primarily to provide additional working capital for European Wealth and to strengthen its balance sheet.
However, the subscription is conditional upon the approval of resolutions set out in the notice of extraordinary general meeting contained in a circular that is being sent to shareholders.
The Resolutions set out in the circular includes the approval of changes to the company’s articles of incorporation, share capital reorganization and the approval of directors’ appointments.
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