News blog
Nyota Minerals Ltd
- BY: Andrew Hore |
- POSTED: 30/05/2017 |
Nyota Minerals Ltd is seeking shareholder approval to cancel its ASX listing, having gained approval from the ASX itself, at a general meeting on 3 July.
A 400-for-one share consolidation is also planned. And Nyota is asking for approvals for share issues. The consolidation will happen on 5 July. The shares are currently trading at 0.08p or 32p post-consolidation.
At the beginning of May, Nyota raised £93,880 at 0.02p (8p post-consolidation) a share. Peterhouse was going to be assigned the £200,000 loan from former acquisition target Bigdish Ventures but this deal has lapsed. This means that Bigdish can convert the loan into shares at 0.02p (8p) each.
Peterhouse will still receive 91.4 million warrants exercisable at 0.02p (8p) each in lieu of commission for the placing. Nyota will receive £100,000 worth of warrants to subscribe for shares in Bigdish at a potential flotation price.
Jonathan Morley-Kirk resigned from the board and former Pathfinder Minerals finance director James Normand is being appointed.
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