Exercise of Options and Issue of Equity
February 17 2010 - 2:20AM
UK Regulatory
TIDMPMHL
RNS Number : 2641H
Prosperity Minerals Holdings Ltd
17 February 2010
17 February 2010
Prosperity Minerals Holdings Limited
Exercise of Options and Issue of Equity
Prosperity Minerals Holdings Limited ("Prosperity" or "the Company") announces
that
980,000 new ordinary shares of GBP0.01 each ("Ordinary Shares") have been issued
following the exercise of employee share options granted under the Company's
2007 share option plan. The options were exercised at a price of GBP0.62 each.
Daniel Stewart, the Company's Nominated Adviser and Broker has successfully
assisted the option holders to sell their new Ordinary Shares with a number of
new and existing institutional and private investors
Application has been made to the London Stock Exchange for the new Ordinary
Shares to be admitted to trading on AIM. Admission is expected to take place on
22 February 2010.The shares will rank pari passu with the existing issued
ordinary shares.
Following the issue of the New Ordinary Shares, the Company's capital will
consist of 135,465,165 ordinary shares.
Further enquiries:
Prosperity Minerals Holdings Limited Tel: + 44 (0) 20 7638
9571
Patrick Li, Chief Financial Officer
Sandy Chim, Non Executive Director
Neelke Kruger, Investor Relations
Daniel Stewart & Company plc Tel: + 44 (0) 20 7776
6550
Simon Leathers
Emma Earl
Citigate Dewe Rogerson Tel: + 44 (0) 20
7638 9571
Media enquiries: Martin Jackson
Analyst enquiries: Kate Lehane
Notes to Editors:
Prosperity (AIM: PMHL) operates a cement manufacturing business in the People's
Republic of China ("PRC") and an iron ore trading business serving the same
market.
Prosperity is focused on two key sectors serving the PRC: the manufacture and
sale of cement; and the trading of iron ore. The Company's shares were admitted
to trading on the AIM market of the London Stock Exchange in May 2006. It
reports in US dollars.
The Company owns 100% of Yingde Dragon Mountain Cement Co. Limited ("YDM"), has
a 25% interest in Prosperity Conch Cement Company Limited ("PCC"), and a 33.06%
interest in Anhui Chaodong Cement Company Limited ("ACC"). YDM and PCC cement
plants, where construction was completed in 2006, employ modern suspension
pre-heater dry processing and are located on adjacent sites in Guangdong
Province in the south east of the country. ACC is located in Anhui Province in
the eastern PRC. Anhui Conch Cement Company Limited, being the largest cement
operator in China, also owns 75% of PCC and 16.28% of ACC respectively.
Prosperity also holds a 40% interest in Guangzhou K. Wah Nanfang Cement Limited
("Guangzhou Nanfang") which has cement grinding facilities in Guangzhou City,
Guangdong Province, a 30% interest in Yunnan Kungang & K. Wah Cement
Construction Materials Co. Limited ("Anning") located in Yunnan Province, and a
30% interest in Baoshan Kungang & K. Wah Cement Construction Materials Co.
Limited ("Baoshan"), also located in Yunnan Province.
The designed sellable output capacity of clinker** and cement at YDM is 5.9
million tonnes per year, PCC is 7.9 million tonnes per year, ACC is 3.4 million
tonnes per year, Guangzhou Nanfang is 0.8 million tonnes per year, Anning is 2.7
million tonnes per year and Baoshan is 1.8 million tonnes per year.
Prosperity also has interests in four cement projects under development. The
Company holds a 75% interest in a new cement factory in Liaoning Province, 100%
interest in a new cement factory in Chongqing Direct Municipal City; a 100%
interest in a new cement factory in Guizhou Province and a 100% interest in a
new cement factory in Guangan City, Sichuan Province.
The iron ore trading business has been operating since 1992 and sources iron
ore, for shipment and use in the PRC, from major international iron ore
producers such as Kumba Iron Ore (South Africa), Vale (Brazil) and Rio Tinto
(Australia), as well as from South East Asia, Thailand and Malaysia in
particular. The majority of the Company's iron ore is sold to the large steel
manufacturers in the PRC and, in the fiscal year ended 31 March 2009, Prosperity
shipped 4.4 million tonnes of iron ore. This volume increased to 5.2 million
tonnes in the six months ended 30 September 2009.
The PRC is the world's third largest economy (behind the US and Japan) and the
largest producer and consumer of cement and the biggest buyer of iron ore.
**Clinker is a complex calcium alumino-silicate material produced by the
calcinations of limestone and clays. It is then ground and mixed with gypsum to
form cement or, more correctly, Portland Cement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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