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 16th 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 19th 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

 

+44 (0)20 7099 1940
Northland Capital Partners Ltd (Nomad)

Tom Price

David Hignell

 

+44 (0)20 3861 6625
Brandon Hill Capital (Joint Broker)

Jonathan Evans

 

Beaufort Securities Limited (Joint Broker)

Jon Belliss

 

+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.