Obtala Resources Share Discussion Threads

[michaelfenton] 15/12/2017 07:19

Good news the uncertainty re the Nomad is over and Northlands finally appointed after due diligence. I suspect this uncertainty has been partly responsible for the drift south? Now we need news that Timber is being ramped up and that Farming is slowly making progress in it's long journey.

[michaelfenton] 06/12/2017 08:31

Beeks hahahaha very funny however the question needed asking?

[beeks of arabia] 05/12/2017 15:29

i think they heard you :)

[michaelfenton] 05/12/2017 09:04

When is due diligence for new nomad going to get finished or are we going to the wire on 19th December? This IS worrying or am I being overly pessimistic?

[zcaprd7] 05/12/2017 08:53

When are results due?

[jack jebb] 21/11/2017 12:57

I expect this to rise strongly into year end, in anticipation of the best half year in the company's history, and the expectation of a lot more of the same to come.

[jack jebb] 17/10/2017 16:10

Katy

It is actually. Whenever a new Nomad is appointed, they write the same cya stuff. Perfectly standard.

[club sandwich] 17/10/2017 15:48

Northland will soon (hopefully) be sued by Paragon shareholders over negligence in not spotting the alleged fraud by Philip Manduca. Manduca bought a bond from Obtala, the root cause of the fraud. Nice circularity...

[katylied] 17/10/2017 15:30

"...There can be no guarantee that Northland Capital Partners will be able to satisfactorily conclude its due diligence by 5pm 19 December 2017 or provide the relevant declaration to the Exchange. Accordingly, in such circumstances there is a risk that the Company's AIM securities will be suspended on or before 5pm on 19 December 2017 pursuant to AIM Rule 1..."

That is not something you see everyday...

[wedward] 17/10/2017 07:33

more importantly new Nominated adviser keeps the shares listed

[shaunstar] 16/10/2017 15:14

New joint broker.... placing ahoy?

[jack jebb] 13/10/2017 09:20

Those poor suckers, sitting on large profits. Admittedly, not as high as they were, but once its seen that large, sustainable and growing revenues are happening, and happening right now, the basis will change.

[imjustdandy] 12/10/2017 07:39

Obtala Ltd - Obtala Limited - Conviction Buy. Target price 38.18p. Step change in revenues evident following interims & Q3 update. Obtala Limited is an Africa focussed forestry and agriculture company with a goal of becoming one of Sub-Saharan Africa's largest sustainable food and timber producers. Interims show period of investment & Woodbois value made apparent. Obtala posted an operating loss of $3.8 million for the six months to 30th June 2017 but a statutory profit of $22.7 million following a gain on the acquisition of Woodbois. An independent valuation of the forestry and timber trading firm added $53.3 million to Obtala's biological asset value. This compares to a revised purchase price for Woodbois of $12.2 million.

[jack jebb] 11/10/2017 12:13

Good riddance to them imo. I believe all AIM companies that used them are looking for a new Nomad, but judging by the RNS today, OBT had advance notice.

Hopefully it will be the push they need to list elsewhere than the poxy AIM market sooner, rather than later.

[wedward] 11/10/2017 08:43

I think ZAI were chosen by Scolaro way back. It's about time OBT got their act together to hire a proper nomad only a shame it was not done off their own backs

[michaelfenton] 11/10/2017 07:25

Nomad? This looks a bit careless and may lead to a small drop in SP? Maybe op to add?

[multibagger] 11/10/2017 07:11

Obtala Limited Removal of Nomad Status

11/10/2017 7:00am
UK Regulatory (RNS & others)

RNS Number : 2846T

11 October 2017

Obtala Limited

ZAI Removal of Nomad Status by the Exchange

Obtala Limited (AIM: OBT), the African focused agricultural and forestry company, announces that it has been informed that that the London Stock Exchange has determined to remove ZAI Corporate Finance's nomad status pursuant to Rule 11 of the AIM Rules for Nominated Advisers ("Nomad Rules") on the basis that it no longer meets the criteria in Nomad Rule 2 - bullet points 3 and 4, being that a nominated adviser must

-- have acted on at least three Relevant Transactions during that two-year period;
-- employ at least four Qualified Executives and in this regard the Exchange will take in to account the overall experience of the Qualified Executives on an individual basis and as a team.

The removal will take effect at 7am 19 October 2017. If the Company has not appointed a replacement nominated advisor by this date the Company's shares will be suspended from trading on AIM, pursuant to AIM Rule 1. If the Company has appointed a replacement nominated adviser within one month of suspension (by 20 November 2017), admission of the Company's shares to trading on AIM will be cancelled.

If the Company appoints a new Nomad that has been granted an expedited take-on process by AIM regulation then such Nomad will have until 5pm on 19(th) December 2017 to complete its full Nomad due diligence on the Company. If the new Nomad is unable to provide the full nomad declaration to London Exchange by this date, it will not be able to continue to act as Nomad for the Company and the Company's shares will be suspended from trading on AIM. If no nomad is appointed within one month of this date then admission of the Company's shares to trading on AIM will be cancelled.

The Company's board has vetted several Nomads during the past weeks and is in the final stages of agreeing satisfactory terms of business with a reputable nominated advisor. The Board expects to appoint such Nomad in short order and it is understood that said Nomad has been granted an expedited take-on process by AIM.

[jack jebb] 10/10/2017 11:46

Or you could just concentrate on what the Chairman and CEO are telling you. Last I checked, not many AIM companies had Goldman Sachs, UBS or Nomura as a house broker.

[blue59] 10/10/2017 10:44

You just have to read Beaufort Securities' reviews to understand why they were chosen.

[wedward] 09/10/2017 09:34

I see Beaufort have managed to write a 60 page buy note target 37.5p...

[zcaprd7] 05/10/2017 19:22

No one mentioned fraud? Just clever and legal accounting practices...

[jack jebb] 03/10/2017 12:35

He and PD have certainly put their money where their mouths are. How often do you see that on AIM?

Permabears like Jaknife will have you believe that its Argenta shares and not Obtala. Its actually both, and Obtala own the lions share of Argenta, so OBT shares are as good as Joe Public can get to the action.

Its worth repeating that the bod will know what the first 3 months of H2 have been like, and have great visibility for H2. Substantial revenues means just that.

I have no idea what those numbers are, but an at worst level of about $5mln to an at best level of about $11mln seems well within range imo.

I really dont think investors have fully grasped the sea change in the last week.