Nyota Minerals Limited Company Update (0820O)

TIDMNYO

RNS Number : 0820O

Nyota Minerals Limited

15 August 2017

For immediate release

15 August 2017

Nyota Minerals Limited

('Nyota' or 'the Company')

Company Update

As previously announced, Beaumont Cornish Limited, the Company's Nominated Adviser, served notice on the Company that it would resign as the Company's Nominated Adviser with effect from 17 August 2017. The Company is currently in discussions with another Nominated Adviser but will not be in a position to appoint a replacement Nominated Adviser on or before this date and accordingly, as highlighted in the Company's announcement on 18 July 2017, pursuant to AIM Rule 1, the Company's shares will be suspended from trading on AIM with effect from 8.00am on 17 August 2017. The Company's shares will be cancelled from trading on AIM if an appointment is not made on or before 17 September 2017 (the "Cancellation Date").

Separately, the Board of Nyota is in advanced stages of discussion with Peterhouse Corporate Finance ("Peterhouse") on the terms of a conditional placing at a substantial discount to the current share price (the "Peterhouse Placing"). Completion of the Peterhouse Placing would, should it proceed, be subject to the appointment of a new Nominated Adviser to the Company, on or before the Cancellation Date, and the restoration of trading of the Company's ordinary shares on AIM. Should the Peterhouse Placing proceed, Peterhouse would withdraw its resignation as the Company's broker.

Shareholders should note that there can be no certainty that a replacement Nominated Adviser will be appointed on or before the Cancellation Date, nor that the Peterhouse Placing will proceed.

A further announcement will be made in due course.

This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

For further information please visit www.nyotaminerals.com or contact:

 
 Sergey Budkin      Director, Nyota Minerals        c/o Peterhouse Corporate 
                     Limited                         Finance (see below) 
=================  ==============================  ========================= 
 Michael Cornish 
  James Biddle      Beaumont Cornish Limited        [phone] 
=================  ==============================  ========================= 
 Lucy Williams      Peterhouse Corporate Finance 
  Eran Zucker        Limited                        [phone] 
=================  ==============================  ========================= 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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August 15, 2017 11:31 ET (15:31 GMT)