Global Resources Investment Tst PLC Portfolio Realisation (1186R)

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 
-------------------------------------  --------------- 
 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

END

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December 06, 2016 10:40 ET (15:40 GMT)

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