6 December 2016
GLOBAL RESOURCES INVESTMENT TRUST PLC
("GRIT" or the "Company")
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.
David ("Sam") Hutchins,
RDP Fund Management LLP
Tel: +(0) 7290 8540
R&H Fund Services Limited
Company Secretary and Administrator
Tel: +(0) 131 550 3760
This information is provided by RNS