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18 May 2010 10:43
18 May 2010
OBTALA RESOURCES PLC ("Obtala" or the "Company")
Issue of Equity from Placing
The board of Obtala Resources Plc are pleased to announce that they have completed a placing of 6,060,607 new ordinary shares at 33p raising a gross amount of £2,000,000.31.
Frank Scolaro, Chairman commented:
"These funds further endorse and support the board and management of Obtala Resources Plc and afford the Company the opportunity to enhance value through acquisitions of quality assets in Africa."
Accordingly, application has been made for the 6,060,607 new ordinary shares to be admitted to trading on AIM and it is expected that admission will take place on 21 May 2010.
The new ordinary shares will rank pari passu with existing shares of the Company. Following this allotment the total issued share capital of the Company will increase to 219,903,252 ordinary shares.
Contact:
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Simon Rollason - Managing Director Frank Scolaro - Chairman www.obtalaresources.co.uk |
+44 (0) 20 7099 1940
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Obtala Resources plc |
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ZAI Corporate Finance Ltd |
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Ray Zimmerman/ Sarang Shah |
+44 (0) 20 7060 2220 |
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Threadneedle Communications |
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Laurence Read |
+44 (0) 20 7653 9855 |
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