Further to the announcement of 2 May 2017, Obtala Limited (AIM: OBT), the African focused agricultural and forestry company, announces that the cash subscription proceeds in respect of the amended subscription agreement announced on 2 May 2017 have not yet been received in full.
The Company has received approximately 5% of cash proceeds in good faith whilst settlement transfer issues are expected to be resolved within the next 20-30 business days and subscription completed. Discussions continue with a view to completing the subscription and a further announcement will be made in due course.
Miles Pelham – Chairman
|+44 (0)20 7099 1940|
|ZAI Corporate Finance Limited (Nomad) |
John Treacy / Ray Zimmerman
|+44 (0)20 7060 2220|
|Brandon Hill Capital (Joint Broker) |
Beaufort Securities Limited (Joint Broker)
|+44 (0)20 3463 5000|
+44 (0)20 7382 8300
This announcement contains information which was previously inside information for the purposes of Article 7 of the Market Abuse Regulation EU Regulation 596/2014.