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Tiziana Life Sciences #TILS – Appoints Optiva Securities Limited as Broker

Tiziana Life Sciences plc (AIM:TILS)  is pleased to announce the appointment of Optiva Securities Limited as its broker with immediate effect.


Gabriele Cerrone, Chairman and founder                                         +44 (0)20 7495 2379

Cairn Financial Advisers LLP (Nominated adviser)

Liam Murray / Jo Turner                                                                    + 44 (0)20 7213 0883

Optiva Securities Limited

Robert Emmet   + 44 (0)20 3981 4173

For further information, please visit the Company’s website at www.tizianalifesciences.com .

Andalas Energy & Power #ADL – Holdings in Company

Andalas Energy and Power Plc

Holding(s) in Company

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i
1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii: Andalas Energy & Power plc
1b. Please indicate if the issuer is a non-UK issuer   (please mark with an “X” if appropriate)
Non-UK issuer X
2. Reason for the notification (please mark the appropriate box or boxes with an “X”)
An acquisition or disposal of voting rights X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify)iii:
3. Details of person subject to the notification obligationiv
Name Optiva Securities Limited
City and country of registered office (if applicable) London, UK
4. Full name of shareholder(s) (if different from 3.)v
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or reachedvi: 19/03/19
6. Date on which issuer notified (DD/MM/YYYY): 29/03/19
7. Total positions of person(s) subject to the notification obligation
% of voting rights attached to shares (total of 8. A) % of voting rights through financial instruments
(total of 8.B 1 + 8.B 2)
Total of both in % (8.A + 8.B) Total number of voting rights of issuervii
Resulting situation on the date on which threshold was crossed or reached 9.82% 9.82% 603,970,301
Position of previous notification (if


8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii
A: Voting rights attached to shares
Class/type of

ISIN code (if possible)
Number of voting rightsix % of voting rights
(Art 9 of Directive 2004/109/EC) (DTR5.1)
(Art 10 of Directive 2004/109/EC) (DTR5.2.1)
(Art 9 of Directive 2004/109/EC) (DTR5.1)
(Art 10 of Directive 2004/109/EC) (DTR5.2.1)
IM00B1FPZP63 59,292,583 9.82%
SUBTOTAL 8. A 59,292,583 9.82%
B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))
Type of financial instrument Expiration
Conversion Period
Number of voting rights that may be acquired if the instrument is
% of voting rights
B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))
Type of financial instrument Expiration
Conversion Period
Physical or cash
Number of voting rights % of voting rights


9. Information in relation to the person subject to the notification obligation (please mark the
applicable box with an “X”)
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii
Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv (please add additional rows as necessary)
Namexv % of voting rights if it equals or is higher than the notifiable threshold % of voting rights through financial instruments if it equals or is higher than the notifiable threshold Total of both if it equals or is higher than the notifiable threshold
10. In case of proxy voting, please identify:
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional informationxvi


Place of completion London, UK
Date of completion 29/03/19

ECR Minerals #ECR – Issue of Shares for Communications Services and Advisor Change

ECR Minerals plc #ECR the precious metals exploration and development company is pleased to announce that 3,878,400 New Ordinary Shares have been issued by the Company at a deemed share price of 1.0p per share in lieu of marketing and communications services valued at £38,784.

The shares are to be issued to several separate service providers covering investor and public relations services.

In addition the Company announces that it has terminated its broking arrangement with Optiva Securities and now has SI Capital Limited as sole broker.

Craig Brown Chief Executive Officer of ECR Minerals plc commented: “I am pleased to see the confidence in the company shown by marketing and communications advisors taking fees in shares at a premium to the current share price.

ECR Minerals is now seeing extremely positive results from the Australian gold exploration programme in Victoria region and it is important that we increase market awareness of our work and our notable recent successes at Blue Moon and importantly, Creswick.

With this in mind we have been working with advisors to develop a broad communications strategy and secure the right mix of media partners to help broadcast our message. Our marketing & media partners are largely incentivised through share based fee payments in respect of recently delivered and planned services and we plan to see a significant increase in the breadth and depth of company communications at this important time in the advancement and development of the Company.

Separately I would like to thank Optiva Securities for their work over recent years and look forward to working with SI Capital going forward.”


Admission of the New Ordinary Shares is expected to occur on or around 15 October 2018. Following Admission of the Financing Shares, ECR’s issued ordinary share capital will comprise 345,840,783 ordinary shares of 0.001 pence. This number will represent the total voting rights in the Company, and, following admission of both the placing and subscription shares, may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules. The new shares will rank pari passu in all respects with the ordinary shares of the Company currently traded on AIM.


ECR Minerals plc Tel: +44 (0)20 7929 1010
David Tang, Non-Executive Chairman
Craig Brown, Director & CEO



Website: www.ecrminerals.com
WH Ireland Ltd Tel: +44 (0)161 832 2174
Nominated Adviser
Katy Mitchell/James Sinclair-Ford
SI Capital Ltd Tel: +44 (0)1483 413500
Nick Emerson


ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central Victoria, Australia.

ECR has earned a 25% interest in the Danglay epithermal gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines. An NI43-101 technical report was completed in respect of the Danglay project in December 2015 and is available for download from ECR’s website.

ECR’s wholly owned Argentine subsidiary Ochre Mining has 100% ownership of the SLM gold project in La Rioja, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near-term production.

Andalas Energy & Power #ADL – Change of Nomad and update

Andalas Energy and Power Plc, the AIM traded upstream oil and gas energy company (AIM: ADL), is pleased to announce the appointment of Beaumont Cornish Limited as the Company’s Nominated Adviser with immediate effect.  Optiva Securities Limited and Novum Securities Limited remain the Company’s Joint Brokers.

In addition, the Company provides the following update:

  • The Company expects to announce and publish its audited accounts for the year ended 30 April 2018 in June 2018;
  • The Company announces that as part of ongoing actions to strengthen the Company’s balance sheet each of Simon Gorringe, Daniel Jorgensen and Ross Warner, current Directors of the Company, have each agreed to waive US$100,000 of unpaid contractual salaries for a total of US$300,000.These amounts have been written off for nil consideration. The Company is working to further reduce its current indebtedness and anticipates providing an update in conjunction with publication of the Accounts;
  • Upon the termination of David Whitby’s appointment as Director of the Company he was contractually entitled to US$278,017, which was settled post year end for US$52,500 in full and final settlement. He has no ongoing role within the Company.
  • As announced on 30 April 2018, the Company reduced its cash burn in the second half by 25% relative to the first half (H1 2018: US$1,015,000) and its unaudited cash balance at 30 April 2018 was US$38,000, which was supplemented by the proceeds from the £600,000 (gross) capital raise announced on 30 April 2018 as previously announced;
  • The Company, following the Placing, has 9,662,162,387 ordinary shares of nil par value in issue. Following a review of the Company’s capital structure the Board have resolved to undertake a share consolidation thereby bringing the number of shares in issue more in line with a company of Andalas’ size. Such share consolidation will be conditional on Shareholder approval and therefore a resolution seeking Shareholder approval for the share consolidation is expected to be contained in the notice of AGM.

Commenting on the announcement, Simon Gorringe, CEO said: “This announcement further demonstrates the Boards intention to put the past behind it and to move forward on our new strategy of building a balanced portfolio of assets to deliver value to our shareholders.”

For further information, please contact:”

Simon Gorringe Andalas Energy and Power Plc Tel: +62 21 2965 5800
Roland Cornish/ James Biddle Beaumont Cornish Limited
(Nominated Adviser)
Tel: +44 20 7628 3396
Colin Rowbury Novum Securities Limited
(Joint Broker)
Tel: +44 207 399 9427
Christian Dennis Optiva Securities Limited
(Joint Broker)
Tel: +44 20 3411 1881
Stefania Barbaglio Cassiopeia Services Ltd Stefania@cassiopeia-ltd.com

Andalas Energy & Power #ADL announces a North Sea license acquisition and placing

Andalas Energy and Power Plc, the AIM listed upstream oil and gas and energy company (AIM: ADL), is pleased to announce it has acquired an interest in Licence P2112, a Southern North Sea Licence, which contains Badger, a large undrilled gas prospect through the acquisition of a 14.75% equity interest in Eagle Gas Limited, a private UK oil and gas company.


  • Eagle, through its wholly owned subsidiary, has a 66.67% interest in Licence P2112.
  • Andalas’ investment will provide capital for Eagle’s share of the 2018 work programme, contracted to PGS.
    • The existing 3D seismic data and interpretation by the previous Operator indicates that Badger has significant gas potential.
    • The work programme will further define the size of the Badger prospect and fully meets the licence commitment.
    • Eagle is targeting completion of the work programme in Summer 2018.
  • The Licence straddles existing pipeline infrastructure.
  • Creates the potential for further investments opportunities in the UKCS.
  • Consideration payable to Eagle is £125,000 in cash and 147,058,824 fully paid Andalas shares equating to £25,000 at the placing price.
  • £600,000 (gross) raised via the issue of 3,529,411,765 new ordinary shares of no par value, at a price of 0.017 pence per share – funding the acquisition and for general working capital.

Simon Gorringe, CEO of Andalas Energy and Power PLC said: “This investment is the first step in delivering my broader strategy to combine nearer term catalysts for shareholders, with our existing Indonesian projects.  Indonesia offers significant potential and we remain committed to our existing projects and strategy there. However to generate sustained value for shareholders we believe we must diversify into other projects or jurisdictions where suitable opportunities arise.  Our team has over 25 years’ experience in the UK North Sea, working across 15 fields encompassing every stage of the development cycle, which makes the Eagle opportunity particularly complementary to the teams skill set.

The investment gives us a material stake in an asset at an attractive entry point, with an existing work programme underway, providing significant upside potential. It also gives us access to other possible UK oil and gas projects that are being worked on by the team at Eagle.  We believe our expertise will help Eagle progress Badger and assist in negotiations on other business development opportunities.

Under our new low-cost operating model I have continued to stream line costs.  In particular in my first six months as CEO, I have already reduced our 6 month cash spend by 25% and continue to make reductions.  The benefit of these cost savings mean that the funds from this placing will provide us with sufficient working capital to deliver the results of Eagle’s work programme and make progress on our other initiatives.  We look forward to providing further updates on this and other projects in due course.”

About Eagle and the Badger prospect

Seaward production Licence P2112 contains the Badger prospect, one of the largest undrilled gas prospects in the UK Southern North Sea. Eagle, through its wholly owned subsidiary, has a 66.67% interest in Licence P2112.  The unaudited management accounts of Eagle for the period from 1 September 2017 to 28 February 2018 showed a pre-tax loss of £276,435.

The 2018 work programme includes the reprocessing of 3D seismic. The programme fully meets the Licence commitment and Petroleum Geo-Services ASA (“PGS”) has been contracted to undertake the work. Eagle and Andalas will cooperate on funding the long-term development of the project.

The consideration payable to Eagle is £125,000 in cash and 147,058,824 fully paid Andalas shares at the placing price for the 14.75% interest in Eagle.   Andalas will issue a further 147,058,824 (£25,000) consideration shares to Eagle on the earlier of the Licence being extended beyond 31 December 2018 and Eagle acquiring additional assets agreed by Andalas.  The investment in Eagle will initially be recorded in the books of Andalas at the fair value of the consideration.

The acquisition is funded via the placing of 3,529,411,765 new ordinary shares of no par value, raising gross proceeds of £600,000, at a price of £0.00017 per share.  The proceeds of the placing will also be applied for general working capital purposes.  Application has been made for the Placing Shares and Initial Consideration Shares to be admitted to trading on AIM and dealings are expected to commence on or around 13 May 2018.

In conjunction with the placing, a total of 264,705,882 three year warrants exercisable at the placing price have been issued.

Appointment of Joint Brokers

Upon completion of the placing, Novum Securities Limited and Optiva Securities Limited have been appointed as Joint brokers to the Company.

Total voting rights

Following Admission, the Company’s issued share capital will consist of 9,662,162,387 ordinary shares of nil par value, with each Ordinary Share carrying the right to one vote. The Company does not hold any Ordinary Shares in treasury. This figure of 9,662,162,387 Ordinary Shares may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA’s Disclosure Guidance and Transparency Rules.

For further information, please contact:

Simon Gorringe Andalas Energy and Power Plc Tel: +62 21 2965 5800
David Porter/Nick Tulloch Cantor Fitzgerald Europe
(Nominated Adviser and Joint Broker)
Tel: +44 20 7894 7000
Colin Rowbury Novum Securities Limited
(Joint Broker)
Tel: +44 207 399 9427
Christian Dennis/ Tejas Padalkar Optiva Securities Limited
(Joint Broker)
Tel: +44 20 3411 1881
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