Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksZOL.L Regulatory News (ZOL)

  • There is currently no data for ZOL

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Update re. Transaction Between Shareholders

8 Nov 2021 07:00

RNS Number : 5598R
Zoltav Resources Inc
08 November 2021
 

8 November 2021

 

Zoltav Resources Inc.

("Zoltav" or the "Company")

 

Update re Transaction Between Shareholders

 

Zoltav (AIM: ZOL), the Russia-focused oil and gas exploration and production company, has been notified of certain amendments to the terms of a transaction between two shareholders in the Company which was announced on 29 December 2020.

 

As previously announced, ARA Capital Holdings Limited ("ARA Capital Holdings") agreed to buy, and Bandbear Limited ("Bandbear") agreed to sell, under a Share Purchase Agreement ("SPA"), an interest in the Company of 62,596,644 shares, representing 44.10 percent of Zoltav's total issued share capital (the "Transaction"). As previously announced, 8,100,000 shares pursuant to the Transaction have already been sold by Bandbear to ARA Capital Holdings and the acquisition of the remaining shares held by Bandbear is conditional upon ARA Capital Holdings obtaining clearance from the Russian Federal Antimonopoly Service, which ARA Capital Holdings continues to await.

 

Under the terms of the SPA previously announced, the purchase price (which was denominated in Russian Roubles) amounted to approximately RUR 1.8 billion (approximately US$24.3 million) and consisted of three instalments to be paid according to the following payment schedule: the first instalment, which was equal to approximately US$3 million, has already been paid on entering into the SPA; the balance was to be divided into two equal instalments to be paid no later than 31 December 2023 and 31 December 2024 respectively. The purchase price per share equated to approximately 29 pence per Zoltav share.

 

Zoltav has been notified that following certain amendments to the terms of the transaction agreed between ARA Capital Holdings and Bandbear, the purchase price (which is now denominated in US Dollars) will amount to approximately US$13 million, with the remaining balance of US$10 million becoming payable immediately. The new purchase price per share equates to approximately 15 pence per Zoltav share.

 

Enquiries:

 

Zoltav Resources Inc.

Lea Verny, Non-executive Chairman

 

Tel. +44 (0)20 7390 0234

(via Vigo Consulting)

SP Angel Corporate Finance LLP (Nomad and Broker)

John Mackay / Jeff Keating / Adam Cowl

 

Tel. +44 (0)20 3470 0470

Vigo Consulting

Ben Simons / Charlie Neish

 

Tel. +44 (0)20 7390 0234

 

 

 About Zoltav

 

Zoltav is an oil and gas exploration and production company focused on Russia. The Company holds the Bortovoy Licence in the Saratov region of Southwestern Russia, a 3,215 sq km area along the northern margin of the Pre-Caspian basin, one of the largest hydrocarbon basins in the CIS. The Bortovoy Licence contains a number of productive gas fields in the west of the Licence and a processing plant. The Company is planning to commercialise the eastern fields of the Bortovoy Licence. For further information on Zoltav, or to sign up for our news alert service, visit: www.zoltav.com.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UPDFSMFWIEFSEEF
Date   Source Headline
28th Apr 20177:00 amRNSNotice of AGM
27th Apr 20177:00 amRNSFinal Results
25th Apr 20177:00 amRNSChange of Adviser
22nd Mar 20179:59 amRNSAppointment of Non-executive Chairman
1st Feb 20172:05 pmRNSSecond Price Monitoring Extn
1st Feb 20172:00 pmRNSPrice Monitoring Extension
22nd Dec 20168:31 amRNSAppointment of non-executive director
26th Sep 20167:00 amRNSHalf-year Report
7th Sep 201612:30 pmRNSResult of AGM
7th Sep 20167:00 amRNSTrading Statement & Directorate Changes
12th Aug 20167:00 amRNSNotice of AGM & Directorate Change
24th May 20163:06 pmRNSDirector/PDMR Shareholding
22nd Apr 20167:00 amRNSFinal Results
15th Jan 20168:45 amRNSChange of Registered Office
12th Nov 20157:57 amRNSDirector/PDMR Shareholding
11th Nov 20154:40 pmRNSSecond Price Monitoring Extn
11th Nov 20154:35 pmRNSPrice Monitoring Extension
30th Sep 20157:00 amRNSAppointments of non-executive directors
29th Sep 20157:00 amRNSHalf Yearly Report
10th Jul 20157:00 amRNSAppointment of Joint Broker
9th Jul 201511:15 amRNSResult of AGM and Directorate Changes
15th Jun 20157:00 amRNSNotice of AGM
23rd Apr 20157:00 amRNSFinal Results
8th Apr 20151:20 pmRNSResponse to Media Speculation
12th Mar 20157:00 amRNSAdditional Russian Standard Reserves Registration
9th Feb 201512:47 pmRNSHolding(s) in Company
13th Jan 20157:00 amRNSHolding(s) in Company
15th Dec 20147:00 amRNSBoard Changes
17th Nov 20147:00 amRNSAppointments of non-executive directors
28th Oct 20147:00 amRNSOperational Update - Bortovoy Licence
9th Oct 20148:37 amRNSOperational Update - Bortovoy Licence
8th Oct 20141:24 pmRNSChange of Head Office
8th Oct 201410:12 amRNSChange of Registered Office
25th Sep 20147:00 amRNSHalf Yearly Report
23rd Sep 20141:38 pmRNSAppointment of executive director
30th Jul 20141:38 pmRNSIssue of Equity
15th Jul 20147:00 amRNSIssue of Equity
26th Jun 201410:30 amRNSIssue of Equity
23rd Jun 20147:00 amRNSRussian Standard Reserves Registration
20th Jun 20147:00 amRNSIssue of Equity
18th Jun 20148:01 amRNSCompletion of Acquisition & Admission to AIM
17th Jun 201410:54 amRNSResult of AGM
12th Jun 20148:00 amRNSSchedule 1 update - Zoltav Resources Inc.
12th Jun 20147:00 amRNSIssue of Equity
30th May 20144:05 pmRNSResponse to Press Reports
28th May 20147:30 amRNSSchedule 1 - Zoltav Resources Inc
23rd May 201410:00 amRNSAmendment of Directors' Options
23rd May 20147:30 amRNSRestoration - Zoltav Resources Inc.
23rd May 20147:01 amRNSAcquisition, Subscription and Notice of AGM
23rd May 20147:00 amRNSFinal Results

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.