Tulu Kapi

On 3 September 2014 the Nyota Shareholders approved the sale of Nyota’s remaining interest in the Tulu Kapi to KEFI Minerals Limited.

Details of the sale are contained in the Notice of General Meeting dated 30 July 2014.

Note* on 30 December 2013, Nyota completed the sale of a majority stake (75%) in Nyota Minerals (Ethiopia) Limited, the subsidiary that holds the Tulu Kapi and proximal licences, to KEFI Minerals plc (‘KEFI’).  Nyota retains a 25% direct interest in the Tulu Kapi project and an additional indirect interest through its 12.5% interest in KEFI shares.On grant of a mining licence, the Ethiopian government will be entitled to a 5% free carry interest in Tulu Kapi.