Last checked at 8 Jan 2016 11:18
8 January 2016
Onzima Ventures PLC
("Onzima" or the "Company")
Sale of Investment
The Company announces that it has disposed of its shareholding of 50,000,000 ordinary shares in Glenwick plc receiving the sum of £75,500 net of all costs representing a 50% return on its investment in less than one month.
Gavin Burnell, CEO of Onzima, said: "Pursuant to our investing policy our investments are likely to be held for the short to medium term in the case of publicly-traded holdings. We have been opportunistic in realising a fifty per cent return in a very short period on our first investment. The profits will contribute towards the ongoing costs of the Company as we consider more substantial stakes. As we experience a continued market downturn it presents us with a number of exciting investment proposals which we believe could be an ideal fit for the Company. We are in a strong cash position and we are making good progress on securing our second investment. We look forward to updating the market as soon as we are able."
For further information please contact:
Onzima Ventures PLC Tel: +44 1279 821 200
Gavin Burnell, Luke Cairns
Nominated Adviser
Cairn Financial Advisers LLP Tel: +44 (0) 207148 7900
Sandy Jamieson, Liam Murray
Broker
Peterhouse Corporate Finance Limited Tel: +44 (0) 20 7469 0930
Guy Miller, Lucy Williams