OVG highlights9 Aug 2016 09:14
- Ongoing search for new assets and business opportunities.
- Ovoca Gold plc ("Ovoca") continues the litigation process connected to LLC Taymura debt. Taymura has been declared bankrupt; procedure of bankruptcy proceedings has been entered. Ovoca is the main creditor of LLC Taymura.
- In two transactions in October 2015, Ovoca's CEO Kirill Golovanov acquired 16,256,203 ordinary shares of the Company, or 18.4% of Ovoca's issued share capital.
- At 31 December 2015, Ovoca had net assets of US$23.1 million, which includes cash and cash equivalents of US$7.3 million
- Ovoca purchased 5,800,000 ordinary shares in the issued share capital of the Company. To date since the beginning of the Company's share buyback programme, Ovoca has acquired 8.45% of its own share capital under the approved share buyback programme. The Company now has a total of 81,563,806 Ordinary Shares in issue excluding treasury shares and 6,895,000 Ordinary Shares.