Obtala Resources Limited Operational Update (3340O)
May 27 2015 - 3:33AM
UK Regulatory
TIDMOBT
RNS Number : 3340O
Obtala Resources Limited
27 May 2015
27 May 2015
Obtala Resources Limited
("Obtala" or the "Company")
(AIM: OBT)
Operational Update
Obtala Resources Limited (AIM:OBT), the vertically integrated
agri-processing, farming, timber and retail company, is pleased to
provide the following update and notice of Director changes.
Highlights:
-- Julie Dedman engaged as an agribusiness consultant and strategic partner
-- Fresh product sales demand growing in Tanzania
-- Food & safety certification expected on the Tanzania farm in June
The Company is pleased to announce that, following a site visit
to Tanzania, it has engaged the services of Julie Dedman and her
team of food experts as a consultant and strategic partner to
provide services for the facilitation of the route to market for
various food products. The expertise and experience which Julie and
her team brings will fast-track our certification process and
quality of production leading to a more sustainable and higher
level of route to market.
Julie Dedman started her entrepreneurial career in 1984 when she
formed her own business, West Riding Laboratory Services with a
grant of GBP1,000 from The Prince's Trust Youth Business
Initiative. Fourteen years later, West Riding Milk Testing analysed
two-thirds of the UK's milk. Julie now runs nine multi-million
pound companies in a variety of sectors ranging from food
manufacturing - which includes supplying sandwiches and snack foods
to businesses producing airline meals and Halal meals for hospitals
- to clean air facilities, facilities management and the
manufacturing of surgical ophthalmology instruments for some of the
leading eye hospitals and clinics across the world. Julie gives a
lot of her time and money back to the trust, most recently setting
up the Julie Dedman Enterprise Fund to support young women in
Yorkshire and the Humber into business.
The agribusiness centred in Morogoro, Tanzania continues the
process of attaining food and safety certification for the farm and
drying unit. The final audit inspection by the independent
consultants is expected in early June. While the audit and
certification process continues the Company has been developing the
fresh fruit and vegetable business opportunity with the sales of
over 16 varieties of product commencing locally in Tanzania. The
Company is currently supplying three companies in Dar es Salaam,
first of all Food Lovers Market. Food, which is a large South
African operator with more than 100 Fruit & Veg City stores
throughout Southern Africa, and as far afield as Australia. The
target objective is to supply +200 tonnes of fresh produce per
month into Dar es Salaam, which is listed as Africa's fast growing
city by the African Development Bank. The sales revenue generated
will significantly reduce the overall operating cost for the dried
fruit operation which will re-commence once certification is
awarded.
With the full support of Obtala's Board of Directors, Stephen
Murphy has stepped down from it to concentrate on African Home
Stores (AHS) and its subsidiaries including Life Comfort Solutions
(LCS) as Interim Managing Director of AHS, bringing his retail
expertise in Ireland and the UK to the implementation of a
strategic plan to restore profitability and improve the business
model for its new regional store roll-out
Commenting on today's announcement, Francesco Scolaro, Chairman
of Obtala, said: "As a Board we are very pleased that following a
successful site visit to the agribusiness in Tanzania, Julie has
agreed to act as a consultant and strategic partner. Julie's vast
expertise and experience will help fast-track our certification
process and most importantly the quality of production leading to a
more sustainable and higher levels of route to market. We will
build our farm and production development plans around Julie's
requirements, focusing on margin optimization and returns. I firmly
believe that this relationship will rapidly deliver realizable
benefits for all stakeholders as we build on the debt-free asset
platform we have built thus far. In very much the same way Stephen
Murphy will bring his retail experience to finishing the turnaround
of LCS and drive its expansion."
Obtala Resources
Francesco Scolaro - Chairman
Simon Rollason - Managing
Director
www.obtalaresources.com +44 (0)20 7099 1940
ZAI Corporate Finance Limited
(Nomad) +44 (0)20 7060 2220
Ray Zimmerman
Richard Morrison
Brandon Hill Capital (Broker) +44 (0)20 3463 5000
Jonathan Evans
Square 1 Consulting (Public
Relations) +44 (0)20 7929 5599
David Bick
Mark Longson
This information is provided by RNS
The company news service from the London Stock Exchange
END
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