Obtala Limited Change of Adviser (7268T)
17 October 2017 - 12:52AM
UK Regulatory
TIDMOBT
RNS Number : 7268T
Obtala Limited
16 October 2017
16 October 2017
Obtala Limited
("Obtala", the "Group" or the "Company")
(AIM: OBT)
Replacement Nominated Adviser
Obtala Limited (AIM: OBT), the African focused agricultural and
forestry company, is pleased to announce the appointment of
Northland Capital Partners Limited as Nominated Adviser and joint
broker to the company with immediate effect.
This is further to the Exchange's announcement of 10 October
2017 and the Company's announcement of 11 October 2017 regarding
the pending removal of ZAI Corporate Finance Limited from the
register of nominated advisers, Given the particular circumstances,
the Exchange has agreed that Northland Capital Partners has until
5pm 19 December 2017 to finalise its due diligence and provide all
relevant nominated adviser confirmations to the Exchange.
There can be no guarantee that Northland Capital Partners will
be able to satisfactorily conclude its due diligence by 5pm 19
December 2017 or provide the relevant declaration to the Exchange.
Accordingly, in such circumstances there is a risk that the
Company's AIM securities will be suspended on or before 5pm on 19
December 2017 pursuant to AIM Rule 1. If within one month of that
suspension, the Company has failed to appoint a replacement
nominated adviser, the admission of its AIM securities will be
cancelled.
Notwithstanding the extension of time provided in respect of due
diligence obligations at engagement, Northland Capital Partners
will continue to be subject to all the ongoing nominated adviser
responsibilities under the AIM Rules for Nominated Advisers.
The Company and Northland are determined to complete the due
diligence process within the time frame that has been specified by
AIM and shareholders will be advised once the process has been
completed and the relevant nominated adviser confirmations have
been made to the Exchange.
Miles Pelham, Chairman of Obtala, commented: "The company
reviewed a number of nominated advisers and after extensive
consideration felt that Northland Capital have the knowledge and
experience which best fits our business".
Obtala Limited
Miles Pelham - Chairman
Paul Dolan - CEO
Martin Collins - Deputy Chairman
www.obtala.com +44 (0)20 7099 1940
Northland Capital Partners Ltd (Nomad and Joint Broker)
Tom Price
David Hignell +44 (0)20 3861 6625
Brandon Hill Capital (Joint Broker)
Jonathan Evans +44 (0)20 3463 5000
Beaufort Securities Limited (Joint Broker)
Jon Belliss +44 (0)20 7382 8300
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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