Global Resources Investment Tst PLC Portfolio Realisation (1186R)
December 06 2016 - 10:40AM
UK Regulatory
TIDMGRIT
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 GBP1.5
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 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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