10th Nov 2011 13:50
10 November 2011
Zoltav Resources Inc
("Zoltav" or the "Company")
Increase in Substantial Shareholding
Zoltav, the AIM listed company focused on acquiring and developing natural resource assets, initially in the Former Soviet Union, announces that it has been informed today that ARA Capital Limited ("ARA Capital") has increased its interest in the Company.
On 10 November 2011, ARA Capital purchased 18,762,216 Ordinary Shares of US$0.01 each in the Company ("Ordinary Shares") increasing its total holding to 168,860,154 Ordinary Shares, equivalent to 45.0 per cent. of the Company's issued share capital.
Symon Drake-Brockman, Executive Chairman of Zoltav, commented:
"We are pleased to announce the increased shareholding in the Company by ARA Capital, our main shareholder. We continue to assess and evaluate a range of potential opportunities, consistent with our strategy of initially focusing on natural resources assets in the Former Soviet Union, whilst focusing on shareholder value."
Further information relating to Zoltav can be found at the Company's website: http://zoltav.com/
Enquiries:
Zoltav Resources Inc | Tel. +41 (0)22 338 2774 |
Symon Drake-Brockman, Executive Chairman | |
Kati Watson, Company Secretary | |
Shore Capital | Tel. +44 (0)20 7408 4090 |
Pascal Keane / Toby Gibbs - Corporate Finance | |
Jerry Keen - Corporate Broking | |
Renaissance Capital Limited | Tel. +44 (0)20 7367 8257 |
Ed Johnson | |
Pelham Bell Pottinger | Tel. +44 (0)20 7861 3232 |
James Henderson / Mark Antelme / Lorna Spears |
Related Shares:
ZOL.L