19th Jan 2017 10:17
LONDON (Alliance News) - Nyota Minerals Ltd on Thursday said it is still preparing the documentation necessary for shareholders to consider its proposed reverse takeover of BigDish Ventures Ltd.
Nyota agreed to acquire BigDish last November and said earlier this month it had agreed the sale of the last of its metals interests in order to become a cash shell, meaning it would have to complete an acquisition or takeover within six months to avoid being suspended from AIM.
Shares have been suspended since November 15.
On Thursday, Nyota echoed its statement posted exactly one week ago that said documentation is being prepared for shareholders to consider its proposed takeover.
BigDish owns an app that enables consumers to book discounted seats at restaurants during quiet periods and plans to launch the app in Hong Kong in February. On Thursday, Nyota said it has been advised that BigDish intends to launch in Indonesia in February.
By the end of February, BigDish expects to be operating in three countries in total, with the Philippines representing the third geographical region.
By Joshua Warner; [email protected]; @JoshAlliance
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