TIDMPMHL

RNS Number : 7227J

Prosperity Minerals Holdings Ltd

19 July 2013

19 July 2013

Prosperity Minerals Holdings Limited

("Prosperity" or "the Company")

Cancellation of treasury shares

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 today that the Board has approved the cancellation of all shares held in Treasury acquired under the Company previous share buyback programme, being 4,517,989 ordinary shares. Cancellation is expected to occur in early August 2013. Following the cancellation of the shares held in Treasury, the Company's share capital will consist of 143,391,230 ordinary shares.

Enquiries:

   Prosperity Minerals Holdings Limited                                      +852 3187 2618 

Patrick Li

Neelke Kruger-Logan

Citigate Dewe Rogerson +44 (0) 20 7638 9571

Martin Jackson

Priscilla Garcia

   Daniel Stewart & Company plc                                                +44 (0) 20 7776 6550 

Corporate Finance: Paul Shackleton, Antony Legge,

Emma Earl

Corporate Broking: Martin Lampshire

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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