Subscription for Ordinary Shares (1894B)

TIDMCSB

RNS Number : 1894B

Crosby Asset Management Inc

14 February 2011

14 February 2011

CROSBY ASSET MANAGEMENT INC

("Crosby" or the "Company")

Subscription for Ordinary Shares

The board of Crosby (the "Board") today announces that, following further demand from professional investors, the Company, on 10 February 2011, raised GBP750,000, before expenses, by way of a subscription for 18,750,000 new ordinary shares of US$0.01 each in the share capital of the Company (the "Subscription", the "Subscription Shares") at a price of 4 pence per share (the "Subscription Price"), to four separate professional investors. The Subscription Price represents a discount of 20 per cent. to the closing mid market share price on 10 February 2011.

The Board is pleased to confirm that it is actively pursuing the Company's investment strategy and that the proceeds of the Subscription will be applied to this objective.

The Subscription Shares will rank pari passu with the existing ordinary shares of US$0.01 each in the Company (the "Ordinary Shares"). Application has been made for admission of the Subscription Shares to trading on AIM and admission is expected to occur on Monday 21 February 2011.

Following the issue of the Subscription Shares, there will be 353,542 043 Ordinary Shares in issue. This number may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company.

For further details, please contact:

Crosby Asset Management Limited

Trevor Wells / Waseem Shiraz [phone]

Strand Hanson Limited

Stuart Faulkner / James Spinney/ Rory Chichester [phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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