Issue of Equity from Placing

RNS Number : 1096M

Obtala Resources PLC

18 May 2010

 



18 May 2010

OBTALA RESOURCES PLC ("Obtala" or the "Company")

Issue of Equity from Placing

The board of Obtala Resources Plc are pleased to announce that they have completed a placing of 6,060,607 new ordinary shares at 33p raising a gross amount of £2,000,000.31.

Frank Scolaro, Chairman commented:

"These funds further endorse and support the board and management of Obtala Resources Plc and afford the Company the opportunity to enhance value through acquisitions of quality assets in Africa."

Accordingly, application has been made for the 6,060,607 new ordinary shares to be admitted to trading on AIM and it is expected that admission will take place on 21 May 2010.

The new ordinary shares will rank pari passu with existing shares of the Company. Following this allotment the total issued share capital of the Company will increase to 219,903,252 ordinary shares.

Contact:

Simon Rollason - Managing Director Frank Scolaro - Chairman www.obtalaresources.co.uk	[phone]
Obtala Resources plc
ZAI Corporate Finance Ltd
Ray Zimmerman/ Sarang Shah	[phone]
Threadneedle Communications
Laurence Read	[phone]

 

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