From tom winnifrith27 Jul 2017 16:37
Tuesday at 5.57pm this RNS was released by AIM-listed (for now) Nyota Minerals (NYO). It followedthis RNS at 7am that morning. Nothing extraordinary, two TR-1s issued but it seems that former chairman has been offloading shares issued to him by the company in lieu of director fees in short order.
Of course, there is the small matter of the forthcoming resignation of the Nomad (Beaumont Cornish) and Broker (Peterhouse) in unusual circumstances (see HERE) which may have had an effect on things – indeed, some might suggest that Nyota is in its final days as a listed company.
Curiously the venue of both transactions is given as being Malaga: 90 million shares in – apparently on 18 July, although it tells us further on that completion was 21 July. The sale of 19 million shares is marked as taking place on 24 July, also in Malaga.
Now there is nothing wrong with that, although one might wonder why it is Malaga and not (at least for the sale) the London Stock Exchange. Perhaps it was just a spot of poolside holiday trading. Nothing wrong apart from the missing date on both forms for when the company was informed (oops), and the mis-match of 18 or is it 21 July for shares issued by the company.
But holders may want to follow the example of their former chairman and get out too. The slipping out of the sale notification at 5.57pm (as against the arrival of the 90 million shares from the company at 7am) being, of course, just a natural issue of timing.