25 January 2015

Obtala switches advisers

03/10/2011 Robert Tyerman

Wheeler-deaLling Francesco Scolaro's Obtala Resources (OBT) has changed advisers after boosting net assets and doubling interim losses. The AIM-quoted company, which lifted net assets 36 per cent to £59.9 million and increased losses 124 per cent to £4.7 million in the six months to June, has happointed Australia's Macquarie Capital as nominated adviser and broker in replacement of ZAI Corporate Finance.

Obtala owns a big chunk of fellow AIM counter Paragon Diamonds, which upped its stake in International Diamond Consultants to 98.5 per cent (with Obtala owning the rest directly). The company raised £6 million at 50p, while Paragon raised £2.9 million, and Obtala has also agreed to secure 33 per cent of South Africa's Mokopane iron ore project, with a hoped-for potential of two billion tonnes, by taking 50 per cent of another concern Bushveld Resources.

With cash of £13.3 million, Scolaro expresses optimism for projects and future deals. At 33.5p, the shares are down from a year's high of 52.75p and offer speculative prospects.

Tags: AIM market, Francesco Scolaro, Macquarie Capital, Paragon Diamonds

Growth Company Investor: free trial

Since 2008, our share tips outperformed the benchmark by 281%. Take a free trial and get access to our recommendations today. Start free trial now.

Directors' Pay on AIM 2014

The most comprehensive review of AIM directors' pay available, and this year includes a record sample of 1,044 AIM-quoted companies. The full report is available to order for £365 + VAT. Click here for more info

Latest small-cap and growth company news

Daily coverage of small-cap company stocks on London's junior markets AIM and PLUS, breaking news, stock research and latest share price information for investors. Full sector coverage with all the latest news on smaller listed companies, updated several times a day with financial reports, trading statements and links to further web resources.

Popular News

Latest News

SRT noted that Malaysia was in the process of making 'significant upgrades' to its marine systems

SRT wins Malaysian contract 16/01/2015

Marine tracking specialist Software Radio Technology (AIM:SRT) has won a contract to supply its display system to a port in Malaysia.

Tags: South East Asia

Graphene still tough 16/01/2015

Materials company Graphene NanoChem (GRPH) issued a 'solid' update regarding its 2014 trading.

Cyan grabs Brazil win 18/12/2014

Smart metering outfit Cyan Holdings (AIM:CYAN) has won an order for 1,000 modules in Brazil.

Ideagen raises £17.5m and nabs Gael 18/12/2014

NHS Software specialist Ideagen (AIM:IDEA) is to acquire fellow software play Gael for £18 million.

Range obtains $110m of cash while board quits 12/12/2014

Oil explorer Range Resources (AIM:RRL) has announced a package of funding worth $110 million to continue its exploration efforts while reporting a raft of resignations.

Tags: Oil and gas

Porta grabs Publicasity 11/12/2014

PR group Porta Communications (AIM:PTCM) has acquired food and drink PR concern Publicasity.

Tags: British Media

More News