African Potash Ltd. (AFPO)
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
21 April 2017
AFRICAN POTASH LIMITED
If completed, the Acquisition would constitute a Reverse Takeover under the NEX Exchange Growth Market Rules for Issuers, requiring, amongst other things, approval by the Company's shareholders. The Acquisition would also constitute a related party transaction as Chris Cleverly, Executive Chairman, of the Company is also a director and shareholder of OEL.
In order to progress the Acquisition and provide African Potash with working capital required to maintain its existing operations, the Company is required to raise additional funds. These funds are material in the context of the Company and its current financial position.
Accordingly, African Potash has requested that trading in the Company's shares be suspended pending a further announcement. Such an announcement will be made as soon as practicable.
The Directors of the Company accept responsibility for the content of this announcement.
|End of Announcement||EQS News Service|