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GLOBAL RESOURCES INVESTMENT TRUST PLC ORD GBP0.01 RNS Release

Portfolio Realisation

RNS Number : 1186R
Global Resources Investment Tst PLC
06 December 2016
 

6 December 2016

 

 

GLOBAL RESOURCES INVESTMENT TRUST PLC

("GRIT" or the "Company")

 

Portfolio Realisation

 

On 2 September 2016 the Company announced an agreement to sell 26,100,000 shares in Merrex Gold realising proceeds of CAD$ 4,437,000 with settlement due within 90 days.

Following a disagreement with the buyer, both sides have agreed to cancel the transaction and GRIT retains the ownership to the 26,100,000 shares which continue to be valued within the NAV at the bid price.

LIM Asia Multi-Strategy Fund Inc ("LIM") continue to hold £1.5 million of nominal 9% Convertible Unsecured Loan Stock 2017 ("Loan Stock") and the Company remain confident that this amount can be repaid from further portfolio realisations.  Following the full repayment of LIM, 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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