Last checked at 7 Dec 2015 11:07
7 December 2015
Onzima Ventures PLC
("Onzima" or the "Company")
Investment
The Company announces that it has made its first investment, subscribing through a placing for 50,000,000 new ordinary shares in AIM-traded Glenwick plc ("Glenwick") at 0.1p per share for a total consideration of £50,000.
As a result of the subscription Onzima now holds 3.63% of Glenwick's issued share capital as enlarged by the placing.
Glenwick is an investing company which will seek to acquire companies within the natural resources sector. Initially the geographical focus will be Australasia and North America but it may also consider other regions to the extent that its Board considers that valuable opportunities exist and positive returns can be achieved.
Gavin Burnell, CEO of Onzima said: "Though a small investment for Onzima we are pleased to have secured 20% of the Glenwick raise to give Onzima some exposure to the potential upside".
Onzima is in the process of considering a number of other investments and looks forward to making further announcements in due course.
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) 207 148 7900
Sandy Jamieson, Liam Murray
Broker
Peterhouse Corporate Finance Limited Tel: +44 (0) 20 7469 0930
Guy Miller, Lucy Williams