Last checked at 11 Apr 2016 10:03
Onzima Ventures PLC
("Onzima" or the "Company")
Sale of Investment
The Company announces that it has disposed of its shareholding of 20,000,000 ordinary shares in MX Oil plc making a net gain of £10,176 or 6.8% on the investment made in March 2016.
The Company retains 4,000,000 warrants exercisable at 1p per share for a period of 3 years.
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 retain our warrant holding in MXO giving us nil cost upside exposure and will utilise the funds received for making new investments and working capital. We have a healthy cash balance and are well-placed to take advantage of new opportunities. N4 Pharma, in which we hold a 49% stake, has made excellent progress since we acquired our position and we expect strong newsflow in the coming weeks.
"We look forward to updating the market with further news as soon as we are able."
For further information please contact:
Onzima Ventures PLC Tel: +44 (0) 1732 366561
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