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Onzima Ventures PLC (ONZ)

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Monday 11 April, 2016

Onzima Ventures PLC

Sale of Investment

RNS Number : 7665U
Onzima Ventures PLC
11 April 2016
 

Onzima Ventures PLC

 

("Onzima" or the "Company")

 

Sale of Investment

 

The Company announces that it has disposed of its shareholding of 20,000,000 ordinary shares in MX Oil plc making a net gain of £10,176 or 6.8% on the investment made in March 2016.

 

The Company retains 4,000,000 warrants exercisable at 1p per share for a period of 3 years.

 

Gavin Burnell, CEO of Onzima, said: "Pursuant to our investing policy our investments are likely to be held for the short to medium term in the case of publicly-traded holdings. We retain our warrant holding in MXO giving us nil cost upside exposure and will utilise the funds received for making new investments and working capital. We have a healthy cash balance and are well-placed to take advantage of new opportunities. N4 Pharma, in which we hold a 49% stake, has made excellent progress since we acquired our position and we expect strong newsflow in the coming weeks.

 

"We look forward to updating the market with further news as soon as we are able."

 

For further information please contact:

 

Onzima Ventures PLC                               Tel:  +44 (0) 1732 366561

Gavin Burnell, Luke Cairns

 

Nominated Adviser

Cairn Financial Advisers LLP                     Tel:  +44 (0) 207 148 7900       

Sandy Jamieson, Liam Murray

 

Broker

Peterhouse Corporate Finance Limited    Tel:  +44 (0) 20 7469 0930   

Guy Miller, Lucy Williams


This information is provided by RNS
The company news service from the London Stock Exchange
 
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