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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Aim Investments | LSE:AIM | London | Ordinary Share | GB00B01TVW49 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.525 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMAIM RNS Number : 7513V AIM Investments PLC 08 November 2010 8 November 2010 AIM Investments Plc (the "Company") Investment in Minera Mapsa SA and Implementation of Investing Policy The Company is pleased to announce it has entered into a convertible loan agreement of up to US$300,000 with Minera Mapsa SA ("Minera Mapsa"), a Peruvian mining company, in order to fund certain expenses of Minera Mapsa's proposed listing on a UK or US stockmarket in 2011. The loan is convertible, at the Company's discretion, into Minera Mapsa equity at a 50% discount to the issue price for the listing. The Company has already transferred US$100,000 to an escrow account. Minera Mapsa, through various associated companies, manages substantial mineral concessions in Peru. It also holds a 12% interest in Apurimac Ferrum SA, a company that is at the pre-feasibility stage of developing an iron ore mine producing up to 20Mt of high-grade (68%Fe) product per year. Minera Mapsa has also secured approval from the national port authority to build a specialised mineral terminal in San Juan de Marcona port in Peru's Ica region, a project which includes the construction of a rail line from Andahuaylas in the Apurímac region to the port. The Company's US$300,000 cash investment will convert to shares with a value of US$600,000 (based on the listing price). The shareholding will represent approximately 0.4% of Minera Mapsa's total issued share capital on listing. Listing is anticipated to take place in 2011; however, there can be no assurance that the listing will occur in 2011 or at all. The Company will fund its investment in Minera Mapsa by drawing down under the Loan Facility from Desmond Holdings Limited ("DHL"). The investment in Minera Mapsa is in line with the Company's Investing Policy to fund the listing costs of companies, particularly from the emerging Asian and Latin American areas, in return for discounted equity in the companies. Minera Mapsa is the third such investment. Trading in the Company's shares on AIM has been suspended since 4 May 2010 under Rule 15 of the AIM Rules pending implementation of the Company's Investing Policy to the satisfaction of the London Stock Exchange ("the Exchange") or a reverse transaction under Rule 14 of the AIM Rules. The Exchange has confirmed that the Company has implemented its Investing Policy through its investments in Shenzen Cadro (Catic Group) Hydraulic Equipment Co. Limited, Planteman SA and Minera Mapsa SA. Prior to lifting the suspension in trading, the Exchange requires the Company to seek shareholder approval to changes to its Investing Policy to align it more closely with the above investments. The requisite resolution will be considered at a General Meeting immediately after the Annual General Meeting which is planned to take place on Thursday 9 December 2010. The Company anticipates that, in the event that shareholders approve the requisite resolution, the suspension in trading will be lifted with effect from 7am the following day. For further information please contact: +------------------------+----------------------+-----------------+ | AIM Investments Plc | Alexandra Eavis | 08702 701 111 | +------------------------+----------------------+-----------------+ | Northland Capital | Gavin Burnell, | 020 7492 4750 | | Partners Limited | Edward Hutton | | | (Nominated Adviser and | | | | Broker) | | | +------------------------+----------------------+-----------------+ www.aiminvestmentsplc.com This information is provided by RNS The company news service from the London Stock Exchange END MSCEADFXEEKEFAF
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