Update Re. Suspension and Acquisition (3477X)

TIDMPMA

RNS Number : 3477X

Premier Management Holdings PLC

14 February 2012

Embargoed: 0700hrs 14 February 2012

Premier Management Holdings plc

("Premier Management" or the "Company")

Update Re. Suspension and Acquisition

Premier Management, the Central Asia-focused natural resources investment company, wishes to update shareholders regarding the continued suspension from trading of its shares and the potential acquisition of Central Asia Resources ("CAR").

As announced on 16 November 2011 the Company's shares have been suspended from trading on AIM as the Company has not yet implemented its Investing Policy as required by Rule 15 of the AIM Rules for Companies ("Rule 15"). The suspension from trading will be lifted once a shareholder circular is posted to the Company's shareholders.

As also announced on 16 November 2011 an acquisition of CAR requires a Rule 9 Whitewash under the Rules of the Panel on Takeovers and Mergers (the "Panel") and the above mentioned shareholder circular therefore requires clearance from the Panel.

Both the preparation of the shareholder circular and the clearing process with the Panel have taken longer than anticipated however the Company continues to make good progress with the acquisition of CAR which, notwithstanding this delay, the Company hopes to complete as soon as practicable.

The Company will issue a further update as soon as it has certainty as to the date of the posting of the shareholder circular and the lifting of the suspension from trading.

Enquiries:

 
 Premier Management Holdings Plc 
 Gerry Desler, Chairman               Tel: +44 (0) 
                                       1279 731037 
 
 Libertas Capital Corporate Finance 
  Limited -- Nominated Adviser 
 Thilo Hoffmann / Sandy Jamieson      Tel: +44 (0) 
                                       20 7569 9650 
 
 Rivington Street Corporate Finance 
  -- Broker 
 Jon Levinson                         Tel: +44 (0) 
                                       20 7562 3384 
 
 M: Communications 
 Ben Simons / Maria Souvorov          Tel: +44 (0) 
                                       20 7920 2340 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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