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”.
Miles Pelham – Chairman
Martin Collins – Deputy Chairman
|+44 (0)20 7099 1940|
|Northland Capital Partners Ltd (Nomad and Joint Broker)|
|+44 (0)20 3861 6625|
|Brandon Hill Capital (Joint Broker)|
Beaufort Securities Limited (Joint Broker)
|+44 (0)20 3463 5000|
+44 (0)20 7382 8300
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.