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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ambrian | LSE:AMBR | London | Ordinary Share | GB0003763140 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.50 | 1.25 | 1.75 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:7941M Ambrian Capital PLC 28 November 2006 Ambrian Capital plc Launch of First Fund: Golden Prospect Precious Metals Limited Transfer of Precious Metals Investments Ambrian Capital plc ("Ambrian Capital"), the independent investment banking group, is pleased to announce the launch of Golden Prospect Precious Metals Limited ("GPPM" or the "Precious Metals Fund"), a Guernsey registered, closed-ended investment fund dedicated to equity investments in the precious metals sector. The fund commences trading today on the Alternative Investment Market of the London Stock Exchange (Ticker: GPM). GPPM, which will be managed by Ambrian Asset Management Limited is the first dedicated precious metals fund to be listed in London and aims to exploit the attractive investment opportunities arising from the strong fundamentals of the precious metals sector. In support of the Precious Metals Fund, Ambrian Capital transferred in approximately #9.4m of its existing precious metals equity investment portfolio in return for the equivalent investment of Ordinary Shares and Warrants in this new investment vehicle. The portfolio transferred, which represents a Substantial Transaction under Rule 12 of the AIM Rules, comprised the following nine shareholdings: Company Number of Shares Bolnisi Gold NL 1,000,000 Centamin Egypt Ltd 5,000,000 Coeur D'Alene Minerals Corporation 250,000 Great Panther Resources Ltd 1,250,000 Jubilee Platinum PLC 2,000,000 Lihir Gold Ltd 500,000 Mano River Resources Inc 13,900,000 Resolute Mining Ltd 1,200,000 Uruguay Mineral Exploration Inc 600,000 Tom Gaffney, Chief Executive of Ambrian Capital, said "The launch of the Precious Metals Fund provides a platform for the development of Ambrian Capital's investment management business. The Precious Metals Fund will benefit from the precious metals investment expertise that Ambrian Capital, formerly Golden Prospect plc, has built-up over many years. In addition, GPPM will be able to take advantage of the low tax regime in Guernsey. "With the anticipated launch of further funds next year, Ambrian Asset Management Limited becomes the third operating business of the Group, alongside Ambrian Partners Limited and Ambrian Commodities Limited." The first day of trading announcement issued on behalf of GPPM is reproduced below. About Ambrian Capital Ambrian Capital, formerly Golden Prospect plc, is an independent investment bank quoted on the Alternative Investment Market of the London Stock Exchange (Ticker: AMBR) which has three wholly-owned subsidiaries: Ambrian Asset Management Limited, a specialist investment management business; Ambrian Partners Limited, a corporate finance advisor and stockbroker; and, Ambrian Commodities Limited, an Associate Member of The London Metal Exchange and a broker-dealer of LME traded metals and plastics. Further information about the Group is available on Ambrian Capital's website: www.ambrian.com For further information, please contact: Tom Gaffney Tel: +44 (0)20 7776 6400 Chief Executive Ambrian Capital plc Cathy Malins / Annabel Leather Tel: +44 (0)20 7493 3713 Parkgreen Communications Golden Prospect Precious Metals Limited Launch and Listing of Golden Prospect Precious Metals Limited Golden Prospect Precious Metals Limited ("GPPM" or "the Company"), a new Guernsey registered closed-ended investment company and the first London listed fund dedicated to investing in listed equities in the precious metals sector, today announces its admission to trading on AIM. Following a successful placing and transfer of investments previously owned by Ambrian Capital plc (formerly Golden Prospect plc) to GPPM for around #9.4 million, the Company will be capitalised at approximately #12.9m. For each Ordinary Share (Ticker: GPM), investors also received one Warrant (Ticker: GPMW) in the Company. The placing price of each Ordinary Share and Warrant was 100 pence. GPPM has appointed Collins Stewart Limited and Ambrian Partners Limited as Joint Brokers, with Collins Stewart as Nominated Adviser. GPPM will focus on equity investments in the gold, silver, platinum, palladium and diamond sectors. The Directors believe that above average returns will be generated through the capital appreciation of a selective portfolio of investments in these sectors. The funds will be concentrated in listed companies that have projects in either the development or production phases. As well as investing in these markets, the Company can also diversify up to 20 per cent. of its gross assets into investments in other key commodities, such as uranium. Stocks will be selected on fundamental factors and wider economic considerations including geopolitical risks. The precious metals sector has experienced a trend of rising market prices since 2001 which has been largely driven by classic supply and demand economics. Generally, there has been a marked increase in the demand for commodities, however there have been few recent discoveries of new precious metal resources and those that have been found will typically take many years to bring into production. The Directors believe that the current upward price trend in the precious metals sector could continue for a number of years making this an opportune time to launch a precious metals fund focusing on these target commodities. GPPM will be managed by Ambrian Asset Management Limited, the asset management subsidiary of independent investment bank Ambrian Capital plc. The fund benefits from a strong management team with a proven track record of increasing shareholder value. The board of directors includes Malcolm Burne, the Chairman of Ambrian Capital plc, who has over 20 years' experience in the mineral resource and gold sectors. Other members of the board include Colin Bird, the CEO of Jubilee Platinum plc, Kaare Foy, Chairman and CEO of Great Panther Resources Ltd, Dr. John Bowles, Geological Consultant with Mineral Science Ltd and Robert King, Director of Northern Trust International Fund Administration (Guernsey) Services Ltd. Malcolm Burne, Director of GPPM commented, "We are delighted to be launching the first precious metals fund on AIM and are confident that with our clear investment strategy and robust evaluation criteria, we can exploit the opportunities that this sector offers and generate substantial returns for our investors. Our team has detailed knowledge of the metals markets and so we are well placed to capitalise on what we consider to be very positive market conditions." Ends For further information, please contact: Ambrian Asset Management Limited: Robert Rasbach +44 20 7776 6450 Parkgreen Communications Cathy Malins / Annabel Leather +44 20 7493 3713 This information is provided by RNS The company news service from the London Stock Exchange END MSCEAPFXAFLKFFE
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