1st Feb 2022 14:34
Zoltav Resources Inc - Russia-focused oil and gas explorer and producer - Says 15.2 million shares were tendered in offer, to be purchased by ARA Capital Holdings Ltd at a price of 25 pence each for a total cost of GBP3.8 million, representing 11% of issued share capital.
Upon completion expected in the week starting February 14, and completion of another purchase of 54.5 million shares by ARA Capital Holdings, it will hold 59% of Zoltav's share capital, and when combined with ARA Capital Ltd, will hold around 99%.
This follows the vote from Zoltav shareholders in favour of delisting from AIM, held two weeks ago. It will be delisted on Feburary 15.
Current stock price: suspended, last quoted at 20 pence
12-month change: down 41%
By Elizabeth Winter; [email protected]
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