Obtala Limited Issue of Equity (0614X)
16 February 2017 - 9:00PM
UK Regulatory
TIDMOBT
RNS Number : 0614X
Obtala Limited
16 February 2017
Obtala Limited
("Obtala", the "Group" or the "Company")
(AIM: OBT)
Issue of Equity
Obtala Limited, the African focused agricultural and forestry
company, announces its intention to issue 4,377,104 ordinary shares
of 1p each in the Company following receipt of a notice to exercise
warrants at a price of 18.56p per share being the subscription
price of the warrants as announced on 20(th) February 2013. Weiss
Asset Management will now have until 21(st) February 2017 to pay a
total of GBP812,390.50 to the Company.
Application will made for the 4,377,104 new Obtala ordinary
shares, which will rank pari passu with the Company's existing
issued ordinary shares, to be admitted to trading on AIM. It is
expected that admission will become effective on or around 22(nd)
February 2017. The enlarged issued share capital of the Company
with voting rights attached will, following the issue, consist of
277,637,768 Ordinary Shares of 1p each with one vote per share.
There are no Ordinary Shares held in Treasury. Therefore the total
number of voting rights in the Company will be 277,637,768. This
figure may be used by shareholders (and others with notification
requirements) as the denominator for the calculations by which they
will determine whether they are required to notify their interest,
or a change to their interest, in the Company under the Financial
Conduct Authority's Disclosure Guidance and Transparency Rules or
otherwise.
This warrant exercise leaves one lot of outstanding warrants in
existence, as announced 28(th) Nov 2012 with the following
terms:
Amount Strike Expiry
20,000,000 40p 28(th) Nov 2017
Miles Pelham, Chairman of Obtala, commented "This is a welcome
and unexpected cash injection for the Company as we fine tune our
capital expenditure plans. Selected investment has been made and we
expect to update investors on detailed timelines of production
capacity expansion in our next quarterly update.
Harvesting and shipping of crops is still occurring in Morogoro,
Tanzania and the Forestry division is busily preparing for the
resumption of the cutting season on 1(st) April.
Due diligence processes are still on-going with the large Asian
based investor regarding investment into Argento Preference share
announced in December but were delayed by Chinese New Year
holidays. We expect this process to be concluded in the near
future."
Obtala Limited
Miles Pelham - Chairman
Paul Dolan - CEO
www.obtala.com +44 (0)20 7099 1940
ZAI Corporate Finance Limited (Nomad)
Ray Zimmerman/ Peter Trevelyan-Clark / John Treacy +44 (0)20 7060 2220
Brandon Hill Capital (Broker)
Jonathan Evans +44 (0)20 3463 5000
This announcement contains inside information for the purposes
of article 7 of the Market Abuse Regulation (EU) No. 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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