6th Jan 2010 12:30
6 January 2010
OBTALA RESOURCES PLC ("Obtala" or the "Company")
Statement on Kopane Diamonds Developments Shareholding
The Board of Obtala Resources (AIM:OBT), which invests in and develops mineral assets in Africa, is pleased to provide the market with an update on recent corporate activities with respect to Kopane Diamond Developments ("Kopane").
Obtala has notified Kopane (AIM:KDD) of a change in the current shareholding held by Obtala. Obtala has recently disposed of 6,940,000 shares in Kopane (realising £928,400) and still remains the largest shareholder and fully supportive of Kopane with 45,595,000 shares representing 19.74% of the total shares in issue.
The decision for this disposal was made by Obtala to provide additional funding to advance its corporate development plan through making strategic investments and potential acquisitions.
Frank Scolaro, Chairman of Obtala, commented that "the decision by the Board to raise funds from sale of Kopane shares allows Obtala to continue with its corporate growth plan, significantly without the need of raising additional funds from the market and means no further dilution to our shareholders. Obtala remains committed to the advancement and financial support of Kopane's Liqhobong Diamond Project, which is a world class deposit and will be value enhancing to our shareholders."
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/Dugald Carlean/Jonathan Evans |
+44 (0) 20 7060 1760 |
Related Shares:
Woodbois