views

Keras Resources – A tasty little BOGOF offer for Christmas.

With a Market Cap of £11 million and 2.4 billion shares in issue, at first glance Keras (KRS) looks like a typically pointless resource company the bottom end of AIM.  Having been around for years in different guises, it would seem its main product is more shares. As it is not a bulletin board darling, it is largely ignored by the market.  On Friday it announced details of how it was going to split itself into 2 with a demerger. Unsurprisingly, this news did not set the market alight. So what is the point of all the legal and other costs, having diluted shareholders a few weeks ago to raise the money to fund the move?