Prosperity Minerals Holdings Ltd Holding(s) in Company (7730C)

TIDMPMHL

RNS Number : 7730C

Prosperity Minerals Holdings Ltd

19 April 2013

Prosperity Minerals Holdings Limited

("Prosperity" or "the Company")

Holdings in Company

The Company has been notified on 18 April 2013 that on 17 April 2013 LIM Asia Multi-Strategy Fund Inc. and LIM Asia Special Situations Master Fund Limited increased their collective holding in the ordinary shares of 1p each in the Company ("Ordinary Shares") from 7,434,396 to 9,369,396 Ordinary Shares. This represents approximately 6.53 per cent. of the Company's issued ordinary share capital.

 
 Prosperity Minerals Holdings Limited 
  Patrick Li 
  Neelke Kruger-Logan                    +852 3187 2618 
 Citigate Dewe Rogerson 
  Martin Jackson                         +44 (0) 20 7638 
  Priscilla Garcia                        9571 
 Daniel Stewart & Company plc 
  Corporate Finance: Paul Shackleton, 
  Antony Legge, Emma Earl                +44 (0) 20 7776 
  Corporate Broking: Martin Lampshire     6550

Notes to Editors:

Prosperity (AIM: PMHL) is:

- an iron ore trading business serving the PRC;

- a specialised real estate owner and developer in the same market; and

- an investor in two cement plants, also in the PRC.

Prosperity's 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 in South Africa, Brazil, Australia and South East Asia, Thailand and Malaysia in particular. The majority of the Company's iron ore is sold to large steel manufacturers in the PRC. In the fiscal years ended 31 March 2011 and 2012, Prosperity shipped 6.3 million tonnes and 4.8 million tonnes of iron ore respectively. In December 2010, Prosperity acquired a 35% effective interest in United Goalink Limited (UGL), a Brazilian mining operation which owns approximately 600 square kilometres of exploration rights and 3 square kilometres of mining concession in the State of Ceara. In the year ended 31 March 2012, UGL shipped 218,808 tonnes of iron ore.

Prosperity has operated a real estate investment and development division since February 2010 which is focused on creating a portfolio of PRC property and development assets with good upside potential and manageable risk. The Company has entered into a number of agreements with its partners to develop recreational, commercial and residential projects in Guangzhou City and Changzhou City in the southern PRC and Hangzhou City in the east. Prosperity also acquired interests in an existing commercial building in Guangzhou, which is a regional capital and is located in the Pearl River Delta, the foremost economic zone in the southern PRC.

Prosperity has two investment associates in the cement manufacturing industry in the PRC. The Company holds a 33.06% interest in Anhui Chaodong Cement Company Limited (ACC), located in Anhui Province in the eastern PRC. The designed sellable production capacity of ACC is 5.1 million tonnes of cement and clinker per annum. In addition, Prosperity owns 16.11% of TCC Liaoning Cement Company Limited which has a designed saleable production capacity of 2 million tonnes of cement and clinker per annum.

The PRC is the World's second largest economy (behind the US) and the biggest buyer of iron ore; it is also the largest producer and consumer of cement.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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