Share Name Share Symbol Market Type Share ISIN Share Description
Pme Afr. LSE:PMEA London Ordinary Share IM00B1WSL611 ORD USD0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +$0.00 +0.00% $0.105 $0.06 $0.15 $0.105 $0.105 $0.105 0 07:30:11
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 0.0 0.4 1.0 10.5 10.76

PME African Infrastructure Opps PLC Update: C30 Locomotive Put Option

15/11/2016 7:01am

UK Regulatory (RNS & others)


Pme Afr. (LSE:PMEA)
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TIDMPMEA

RNS Number : 1546P

PME African Infrastructure Opps PLC

15 November 2016

15 November 2016

PME African Infrastructure Opportunities plc

("PME", the "Company" and together with its subsidiaries the "Group")

(AIM: PMEA.L)

Update: C30 Locomotive Put Option

PME African Infrastructure Opportunities plc is an investment company, established to invest in sub-Saharan African infrastructure and infrastructure related industries. In 2012 the Company adopted a revised investing policy, pursuant to which the Company has sought to realise its remaining assets and return the capital to shareholders. Since 2012, the Company has disposed of the majority of its assets and held three tender offers, returning a total of US$26.8 million to shareholders. The Company's remaining assets consist of two assets, namely three C30 locomotives and a building in Dar-es-Salaam, Tanzania.

Following the sale of its rail assets in April 2015, the Company, via a wholly owned subsidiary, has a put option to require Sheltam (Mauritius) Limited ("Sheltam") to purchase any one or more of the three C30 locomotives still owned by the Group for US$1,416,666 per locomotive (the "Option"). The Option is exercisable at any point during a 90 day period commencing on 6 November 2016 (the "Option Period") and has therefore commenced.

In accordance with its current investing policy, the Company intends to exercise the Option in respect of all three C30 locomotives prior to the expiry of the Option Period and has communicated this intention to Sheltam. At this point the precise timing of the Group's exercise of the Option, and hence the receipt of funds from Sheltam, has not yet been determined. The Company will update shareholders further in due course.

For further information please contact:

 
 
   Smith & Williamson Corporate 
   Finance Limited 
   Nominated Adviser 
   Azhic Basirov / Ben Jeynes        +44 20 7131 4000 
 Stifel Nicolaus Europe Limited 
  Broker 
  Neil Winward / Tom Yeadon        +44 20 7710 7600 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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November 15, 2016 02:01 ET (07:01 GMT)

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