Prosperity Minerals Holdings Ltd Annual Report, AGM Notice & Dividend Declaration (3158J)
July 15 2013 - 5:41AM
UK Regulatory
TIDMPMHL
RNS Number : 3158J
Prosperity Minerals Holdings Ltd
15 July 2013
15 July 2013
Prosperity Minerals Holdings Limited
("Prosperity" or "the Company")
Annual Report, Notice of Annual General Meeting and Dividend
Declaration
Prosperity Minerals Holdings Limited (PMHL.L), an iron ore
trader/operator and real estate owner/developer in the People's
Republic of China (PRC), announces that the Company's Annual Report
2013 and the Notice of Annual General Meeting ("AGM") were posted
to shareholders today and are available for download on the
Company's website www.pmhl.co.uk.
The AGM will be held at 5.00 p.m. Macau time (10.00 a.m. London
time) on 10 October 2013 at Alameda Dr. Carlos D'Assumpcao,
nos.181-187 Centro Comercial do Grupo Brihantismo, 11˚ andar "T",
Macau.
A final dividend of US 3 cents per share is recommended by the
Directors for payment to Shareholders on the register of members of
the Company at the close of business on 27 September 2013. If
approved at the AGM, the dividend will be paid to Shareholders on
18 October 2013 and the shares will trade ex-dividend on 25
September 2013.
Enquiries:
Prosperity Minerals Holdings Limited
Patrick Li
Neelke Kruger-Logan +852 3187 2618
Citigate Dewe Rogerson
Martin Jackson
Priscilla Garcia +44 (0) 20 7638 9571
Daniel Stewart & Company plc
Corporate Finance: Paul Shackleton,
Antony Legge, Emma Earl
Corporate Broking: Martin Lampshire +44 (0) 20 7776 6550
Notes to Editors:
Prosperity (AIM: PMHL) is:
- an iron ore trader and operator 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 2012
and 2013, Prosperity shipped 4.8 million tonnes and 2.8 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 Ceará in
the north east of the country. In the year ended 31 March 2013, UGL
shipped 111,490 tonnes of iron ore (which is included in the above
tally).
Prosperity's real estate investment and development division is
focused on creating an attractive portfolio of PRC property and
development assets. The Company has entered into a number of
agreements with partners to develop residential, commercial and
recreational projects principally in Guangzhou City and Changzhou
City in the southern PRC. Prosperity also owns an interest 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 associate investments 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 6 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. As announced
on 6 February 2013, this latter shareholding is the subject of a
conditional sale and purchase agreement.
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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