Distressed Katanga to boost authorized shares to 5B--SHAREHOLDERS TO VOTE ON PLAN TO RAISE CONVERTIBLE DEBT ON JAN. 12

摘要

All the speculation over the state of Katanga Mining's (KAT-T, KATFF-O) finances is at an end, with a stark announcement from the company that it needs more funding on an "urgent basis" to sustain itself. Katanga doesn't have the cash to continue operations beyond the short term and is asking shareholders for permission to drastically bolster the amount of shares it would have available to raise funds. The London-based company wants to jack up the amount of its authorized shares to a staggering 5 billion from its current position of just 300 million.