Global Resources Investment Tst PLC Portfolio Realisation (8452I)

TIDMGRIT

RNS Number : 8452I

Global Resources Investment Tst PLC

02 September 2016

2 September 2016

GLOBAL RESOURCES INVESTMENT TRUST PLC

("GRIT" or the "Company")

Portfolio Realisation

Having previously sold 2,900,000 shares in Merrex Gold at a price of CAD 0.17, the Company has entered into an agreement to sell the balance of its holding of 26,100,000 shares at the same price, realising CAD 4,437,000 (GBP2.6m at the current rate of exchange).

This sale is expected to complete within 90 days.

On receipt of the proceeds of the sale, the Company expects, as referred to in the announcement of 23 August 2016, to repay the remaining GBP2.5 million nominal of 9% Convertible Unsecured Loan Stock 2017 ("Loan Stock") held by LIM Asia Multi-Strategy Fund Inc. Following this, there will remain in issue GBP1.2 million of Loan Stock held by other parties.

Enquiries to:

 
 David ("Sam") Hutchins,                Tel: +(0) 7290 
  RDP Fund Management LLP                8540 
  Investment Manager 
-------------------------------------  --------------- 
 Martin Cassels                         Tel: +(0) 131 
  R&H Fund Services Limited              550 3760 
  Company Secretary and Administrator 
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This information is provided by RNS

The company news service from the London Stock Exchange

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September 02, 2016 07:50 ET (11:50 GMT)