8 Jan 2016 11:18
8 January 2016
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Onzima Ventures PLC
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("Onzima" or the "Company")
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Sale of Investment
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The Company announces that it has disposed of its shareholding of 50,000,000 ordinary shares in Glenwick plc receiving the sum of £75,500 net of all costs representing a 50% return on its investment in less than one month.
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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 have been opportunistic in realising a fifty per cent return in a very short period on our first investment. The profits will contribute towards the ongoing costs of the Company as we consider more substantial stakes. As we experience a continued market downturn it presents us with a number of exciting investment proposals which we believe could be an ideal fit for the Company. We are in a strong cash position and we are making good progress on securing our second investment. We look forward to updating the market as soon as we are able."
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For further information please contact:
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Onzima Ventures PLC Tel: +44 1279 821 200
Gavin Burnell, Luke Cairns
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Nominated Adviser
Cairn Financial Advisers LLP Tel: +44 (0) 207148 7900
Sandy Jamieson, Liam Murray
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Broker
Peterhouse Corporate Finance Limited Tel: +44 (0) 20 7469 0930
Guy Miller, Lucy Williams
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