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African Potash Ltd. (AFPO)


Friday 21 April, 2017

African Potash Ltd.

Temporary Suspension

African Potash Ltd. (AFPO)
African Potash Ltd.: Temporary Suspension

21-Apr-2017 / 16:00 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

21 April 2017

('African Potash' or the 'Company')

Temporary Suspension

African Potash announces that, on 11 April 2017, the Company signed a Letter of Intent ('LOI') in connection with the proposed acquisition by the Company of Onshore Energy Limited ('OEL'), a private investment company that invests in unquoted companies (the 'Acquisition').

If completed, the Acquisition would constitute a Reverse Takeover under the NEX Exchange Growth Market Rules for Issuers, requiring, amongst other things, approval by the Company's shareholders. The Acquisition would also constitute a related party transaction as Chris Cleverly, Executive Chairman, of the Company is also a director and shareholder of OEL.

In order to progress the Acquisition and provide African Potash with working capital required to maintain its existing operations, the Company is required to raise additional funds. These funds are material in the context of the Company and its current financial position.

Accordingly, African Potash has requested that trading in the Company's shares be suspended pending a further announcement. Such an announcement will be made as soon as practicable.

The Directors of the Company accept responsibility for the content of this announcement.

For further information, please contact:

African Potash Limited  
Chris Cleverly +44 (0) 20 7408 9200
NEX Exchange Corporate Adviser
Peterhouse Corporate Finance Limited
Guy Miller and Mark Anwyl +44 (0) 20 7469 0930


Language: English
Category Code: MSCM
Sequence No.: 4083

End of Announcement EQS News Service

566361  21-Apr-2017 


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