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GLOBAL RESOURCES INVESTMENT TRUST PLC ORD GBP0.01 RNS Release

Portfolio Realisation

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 (£2.6m 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 £2.5 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 £1.2 million of Loan Stock held by other parties.

 

 

Enquiries to:

David ("Sam") Hutchins,

RDP Fund Management LLP

Investment Manager

Tel:  +(0) 7290 8540

Martin Cassels

R&H Fund Services Limited

Company Secretary and Administrator

Tel:  +(0) 131 550 3760

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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GLOBAL RESOURCES INVESTMENT TRUST PLC ORD GBP0.01 Timeline

Newswire
December 05 2014

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