Update on Replacement of Nominated Adviser

RNS Number : 4629Y

Obtala Limited

05 December 2017

 

5 December 2017

Obtala Limited

("Obtala", the "Group" or the "Company")

(AIM: OBT)

Update on Replacement Nominated Adviser

Obtala Limited (AIM: OBT), the African focused agricultural and forestry company, is pleased to announce that, further to the announcement of the 16^th October, the due diligence process being undertaken on the company to confirm the appointment of Northland Capital Partners Limited as Nominated Adviser and joint broker to the company is proceeding in a timely manner.

Site visits are planned to the WoodBois International ApS offices in Copenhagen this week and to the sawmill and veneer factories in Gabon next week. 

No undue concerns have arisen, and we expect a satisfactory outcome before the deadline of the 19^th December 2017.  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 is pleased with the progress to date and looks forward to the confirmation of completion of the appointment of Northland Capital".

Obtala Limited Miles Pelham - Chairman Paul Dolan - CEO Martin Collins - Deputy Chairman www.obtala.com	[phone]
Northland Capital Partners Ltd (Nomad) Tom Price David Hignell	[phone]
Brandon Hill Capital (Joint Broker) Jonathan Evans Beaufort Securities Limited (Joint Broker) Jon Belliss	[phone] [phone]

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. 

 

END

 

 

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