Nyota Minerals Limited Update on Funding/ Date of Annual General Meeting (8369N)
31 October 2016 - 6:04PM
UK Regulatory
TIDMNYO
RNS Number : 8369N
Nyota Minerals Limited
31 October 2016
31 October 2016
For immediate release
Nyota Minerals Limited
("Nyota" or the "Company")
Update on funding
Date of Annual General Meeting
The Board provides the following information by way of a general
corporate update to shareholders.
Corporate funding
The Board has reduced costs as much as possible. This has
conserved cash, but liquidity has been challenging and the
Company's ability to raise further funds through an equity raising
requires shareholder approval, which is being sought at the
forthcoming annual general meeting.
The Company is currently in negotiations with investors for a 12
month unsecured loan of up to GBP400,000 (A$640,000) (the "Loan").
The final terms of the Loan remain subject to negotiation with the
investors and at this stage the availability of the Loan to the
Company is not guaranteed. The Company will provide a further
update to shareholders with respect to the Loan as soon as
practicable.
Corporate matters - Annual General Meeting
The 2016 annual general meeting of the Company ("AGM") will be
held at 5.30pm at the offices of Norton Rose Fulbright (Level 18,
225 George Street), in Sydney, Australia on 30 November 2016. The
AGM will provide for a shareholder vote on the following
matters:
1. Approval of the Company's remuneration report contained in
the 2016 Annual Report (advisory vote only)
2. Re-election of Mr. Sergii Budkin as a director of the Company
3. Ratification of the January 2016 share placement
4. Approval under ASX Listing Rule 7.1A to increase the
Company's placement capacity by a further 10%
5. Adoption of the Employee Share Option Plan - Plan A
6. Approval of provision of termination benefits to each of the directors of the Company
Full details are included in the Notice of Meeting and
accompanying Explanatory Memorandum for the AGM that has been
dispatched to Shareholders today. A copy has been lodged today with
ASX and is available on the Company's website at
www.nyotaminerals.com.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 956/2014.
For further information please visit www.nyotaminerals.com or
contact:
Chairman, Nyota Minerals
Jonathan Morley-Kirk Limited +44 7797 859986
====================== ========================== ================
Beaumont Cornish
Michael Cornish Limited +44 (0) 207 628
James Biddle Nominated Advisor 3396
====================== ========================== ================
Rupert Williams Smaller Company Capital +44 (0) 20 3651
Jeremy Woodgate Limited 2912
====================== ========================== ================
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCGMMFGNMFGVZG
(END) Dow Jones Newswires
October 31, 2016 03:04 ET (07:04 GMT)
Nyota Minerals (LSE:NYO)
Historical Stock Chart
From Apr 2024 to May 2024
Nyota Minerals (LSE:NYO)
Historical Stock Chart
From May 2023 to May 2024