Global Resources Investment Tst PLC Portfolio Realisation (8452I)
September 02 2016 - 6:50AM
UK Regulatory
TIDMGRIT
RNS Number : 8452I
Global Resources Investment Tst PLC
02 September 2016
2 September 2016
GLOBAL RESOURCES INVESTMENT TRUST PLC
("GRIT" or the "Company")
Portfolio Realisation
Having previously sold 2,900,000 shares in Merrex Gold at a
price of CAD 0.17, the Company has entered into an agreement to
sell the balance of its holding of 26,100,000 shares at the same
price, realising CAD 4,437,000 (GBP2.6m at the current rate of
exchange).
This sale is expected to complete within 90 days.
On receipt of the proceeds of the sale, the Company expects, as
referred to in the announcement of 23 August 2016, to repay the
remaining GBP2.5 million nominal of 9% Convertible Unsecured Loan
Stock 2017 ("Loan Stock") held by LIM Asia Multi-Strategy Fund Inc.
Following this, there will remain in issue GBP1.2 million of Loan
Stock held by other parties.
Enquiries to:
David ("Sam") Hutchins, Tel: +(0) 7290
RDP Fund Management LLP 8540
Investment Manager
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Martin Cassels Tel: +(0) 131
R&H Fund Services Limited 550 3760
Company Secretary and Administrator
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This information is provided by RNS
The company news service from the London Stock Exchange
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