Update re Tender Offer

26 January 2022

Zoltav Resources Inc.

("Zoltav" or the "Company")

Update re Tender Offer

Following the Extraordinary General Meeting of the Company held on 19 January 2022, at which Shareholders approved, inter alia, the cancellation of admission to trading on AIM of Zoltav's shares (the "De-Listing"), Shareholders are reminded that the Tender Offer made by ARA Capital Holdings Limited to purchase Ordinary Shares held by Qualifying Shareholders is now unconditional. The Tender Offer provides Qualifying Shareholders a means to realise their investment in the Company prior to the De-Listing for cash at 25 pence per Ordinary Share.

The closing date of the Tender Offer is 1.00 p.m. on 31 January 2022.

The De-Listing is expected to take effect at 7.00 a.m. on 15 February 2022.

Further details of the Tender Offer, and the principal effects of the De-Listing and of holding Ordinary Shares in an unquoted company for Qualifying Shareholders who elect not to tender their holdings, were set out in a circular which was sent to Qualifying Shareholders and is available on the Company's website at www.zoltav.com/documents/.

All Shareholders, apart from the Majority Shareholders, and Shareholders located in a Restricted Jurisdiction, are Qualifying Shareholders and therefore eligible to participate in the Tender Offer and to tender their shareholding in full or in part should they wish to do so as a Qualifying Shareholder.

If your shares are held by your broker or other nominee and you wish to participate in the Tender Offer, you should contact your broker or other nominee without delay, and in any event sufficiently before the deadline of 1.00 p.m. on 31 January 2022 as may be required by your broker or other nominee to act upon your instructions and follow the directions they provide on how to tender your Ordinary Shares. Without your specific instructions, your Ordinary Shares will not be tendered for purchase under the Tender Offer.

Further instructions regarding how to tender your Ordinary Shares can be found in the circular. If you have any further questions regarding the Tender Offer, you may email them to [email protected]. 

Capitalised terms used in this announcement shall have the same meaning as set out in the circular dated 20 December 2021.

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