Obtala Limited Removal of Nomad Status (2846T)
October 11 2017 - 2:00AM
UK Regulatory
TIDMOBT
RNS Number : 2846T
Obtala Limited
11 October 2017
11 October 2017
Obtala Limited
("Obtala", the "Group" or the "Company")
(AIM: OBT)
ZAI Removal of Nomad Status by the Exchange
Obtala Limited (AIM: OBT), the African focused agricultural and
forestry company, announces that it has been informed that that the
London Stock Exchange has determined to remove ZAI Corporate
Finance's nomad status pursuant to Rule 11 of the AIM Rules for
Nominated Advisers ("Nomad Rules") on the basis that it no longer
meets the criteria in Nomad Rule 2 - bullet points 3 and 4, being
that a nominated adviser must
-- have acted on at least three Relevant Transactions during that two-year period;
-- employ at least four Qualified Executives and in this regard
the Exchange will take in to account the overall experience of the
Qualified Executives on an individual basis and as a team.
The removal will take effect at 7am 19 October 2017. If the
Company has not appointed a replacement nominated advisor by this
date the Company's shares will be suspended from trading on AIM,
pursuant to AIM Rule 1. If the Company has appointed a replacement
nominated adviser within one month of suspension (by 20 November
2017), admission of the Company's shares to trading on AIM will be
cancelled.
If the Company appoints a new Nomad that has been granted an
expedited take-on process by AIM regulation then such Nomad will
have until 5pm on 19(th) December 2017 to complete its full Nomad
due diligence on the Company. If the new Nomad is unable to provide
the full nomad declaration to London Exchange by this date, it will
not be able to continue to act as Nomad for the Company and the
Company's shares will be suspended from trading on AIM. If no nomad
is appointed within one month of this date then admission of the
Company's shares to trading on AIM will be cancelled.
The Company's board has vetted several Nomads during the past
weeks and is in the final stages of agreeing satisfactory terms of
business with a reputable nominated advisor. The Board expects to
appoint such Nomad in short order and it is understood that said
Nomad has been granted an expedited take-on process by AIM.
Obtala Limited
Miles Pelham - Chairman
Paul Dolan - CEO
Martin Collins - Deputy Chairman
www.obtala.com +44 (0)20 7099 1940
ZAI Corporate Finance Limited (Nomad)
John Treacy +44 (0)20 7060 2220
Brandon Hill Capital (Joint Broker)
Jonathan Evans +44 (0)20 3463 5000
Beaufort Securities Limited (Joint Broker)
Jon Belliss +44 (0)20 7382 8300
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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