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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Q Resources | QRES | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 16.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 16.00 | 16.00 |
| Top Posts |
|---|
Posted at 29/11/2011 14:49 by monet RNS Number : 9103S Q Resources Plc 29 November 2011 Q Resources Plc Cancellation of Admission 29 November 2011 Q Resources Plc ("Q Resources" or the "Company") announced on 12 April 2011 that it had entered into a memorandum of understanding in respect of the acquisition of the Montecristo Copper Mine and the Santo Domingo Processing Plant (together the "Montecristo Copper Project" or "MCP"). Under the AIM Rules for Companies, trading in the Company's ordinary shares on AIM was suspended on 12 April 2011, pending publication of an admission document. As the Company's ordinary shares have now been suspended from trading on AIM for more than six months, the admission of the Company's ordinary shares to trading on AIM will be cancelled, as required by Rule 41 of the AIM Rules for Companies, with effect from 7.00 a.m. on Tuesday 29 November 2011. The Board of Q Resources remains committed to completing the acquisition of MCP and the associated debt and equity financing required. Discussions with potential investors and lenders are ongoing. In the event that the acquisition of MCP is completed, it is the intention of the Company to seek the admission of its ordinary shares to trading on the AIM Market, when market conditions permit. As at 29 November 2011, the Company had a net cash position of approximately £908,000. Commenting on the announcement, Ivan Murphy, Chairman of Q Resources, said: "In current market circumstances, the time taken to complete transactions such as the acquisition of MCP has necessarily extended. However, the Board has been encouraged by both the reception to MCP by potential investors and by the progress the vendors have made in developing MCP as a viable asset for Q Resources. We are continuing to work with investors and the vendors to bring the acquisition of MCP by Q Resources to fruition." |
Posted at 05/5/2010 22:24 by goz1986 i have a watch list of about 30 (abtx, cls, mcil, mcii, osu etc) shares just 3 of them went down today... Stocks like this and those do not attract the chumps luckily which means that you don't have lots of numptys running for the door at bad news in the outside world (lots of good old fashioned long term holders rather than fickle private investors). However, thats not to say that consistently bad news from the continent or for that matter from this dear country (hung parliament etc) will not eventually bring the price down here!!! |
Posted at 09/4/2010 18:50 by goz1986 Q Resources is a newly incorporated Jersey public limited company which has been established for the purpose of identifying and acquiring, or making investments in, Resources assets. Q Resources is seeking to make a sizeable acquisition within a year of Admission, which willrequire Shareholder approval. The Company may acquire either operating, or close to operating, assets or licences. The Investment Strategy · The Company's strategy is to take advantage of opportunities to acquire assets that need capital and possess potentially valuable resources and operations with an initial focus on the African region. · Q Resources has entered into a consultancy agreement with Gazprombank-Invest MENA who have extensive experience of operating in the African natural resources arena. · The Company will ultimately aim to acquire and/or invest in up to five metals and/or minerals projects, but may also consider suitable acquisitions in the oil and gas sector. · The Company is backed and advised by the same team that brought the assets (Mozambique & Tanzania) and partner (Maurel & Prom www.maureletprom.com · It is intended that Q Resources will be a value and growth oriented investor, targeting opportunities where there is ability for the Company to add value either through its access to capital, its network of contacts or by recruiting high quality personnel. · Q Resources will aim to identify investments where the current management and operational teams have the relevant experience and technical skills, but may lack the capital, or commercial acumen to maximise the potential of their resource assets. · The Company has placed 54,583,333 shares at 6p and 13,645,833 2010 Warrants to subscribers for Placing Shares with investors. Warrants have been issued to investors on the basis of one 2010 Warrant for every four Placing Shares subscribed (rounded down to the nearest whole number of 2010 Warrants). · The Company has raised £2.955 million of capital net of expenses. On Admission the Company has 54,583,335 Ordinary Shares in issue and a market capitalisation of approximately £3.28 million at the Placing Price. · Q Resources will use the net funds received from the Placing to investigate and pursue potential acquisitions, perform due diligence, contribute towards professional costs associated with an acquisition and fund the initial working capital requirements of the Company. · When a suitable investment is identified, the Company would seek to raise additional equity from new and existing Shareholders or raise funds through debt finance to either purchase such investments and/or facilitate the development of such investments. Ivan Murphy, Non-Executive Chairman, commented, "We are very pleased about today's flotation of Q Resources. The Company has excellent prospects as we see an increasing demand for commodities generally but more specifically in China, India and south east Asia. We have built an advisory team around Q Resources, including Gazprombank Invest MENA, that gives us access to very exciting investments for the Company. There are a number of appealing and advanced investment opportunities in the African region where we have extensive expertise." Board of Directors Ivan Murphy - Non-Executive Chairman, aged 37 Ivan Murphy is a senior executive with Gazprombank-Invest (MENA), which has been appointed as a consultant to the Company, further details of which are set out below. He has a degree in Economics from University College Cork, Ireland and has 15 years' experience in capital markets. He started his career at Aberdeen Asset Management PLC, the FTSE 250 listed global asset manager, working in London, Miami and Singapore before returning to Ireland to become Managing Director of Aberdeen Asset Management Ireland Limited ("Aberdeen"). In 2003 he left Aberdeen to work as a consultant to a number of Irish and UK public companies assisting them in the disposal of asset management and life insurance assets. In 2005 he was one of the founders of Fairfax I.S. PLC a London based investment bank, where he focussed on business origination and developing the business in the Far East. After leaving Fairfax in 2008, he acted as a consultant to US and Ireland based property developer Shelbourne Development Limited negotiating with potential partners in China and the Middle East on the financing and construction of the Chicago Spire project. Until recently, Ivan was a non-executive director of Cove Energy PLC, an AIM quoted upstream oil and gas company. Ivan is a member of the audit committee. Philippe Cohen- Non-Executive Director, aged 52 Philippe Cohen has 30 years of experience in the energy, metals and commodity related banking and trading business. A former banker with Banque Paribas, where he spent 11 years, he went on to become a structured finance specialist, firstly with trading major Vitol S.A. and then advising various international institutions and investors in emerging markets. He is currently an independent advisor and has been an associate in a number of oil and gas and mining companies, sourcing and structuring transactions as well as commodity trading opportunities. He advises a number of oil and gas companies on finance and stock-listing strategy and is currently Chief Financial Officer of African Excellence Investments Limited, which specialises in investments in West Africa with a focus on oil and gas in Nigeria. He has also been active in fundraising for and acquisitions of, mining and metals companies, as well as being involved in listings of junior resource companies. Over the years Philippe has developed geographical expertise in West Africa, Eastern Europe and Indonesia, as well as the USA and South America. Philippe obtained a diploma from the ESCP, Ecole Superieure de Commerce de Paris, in 1978 and is fluent in French, Spanish, English, Portuguese and Italian. Philippe is a member of the audit committee. Paul Richards - Non-Executive Director, aged 47 Paul Richards is a partner of Core Capital LLP, a private equity firm. Paul qualified as a Solicitor in 1987 and worked for Theodore Goddard specialising in corporate and insolvency law. In 1996 he joined the corporate finance department of Hoare Govett. He joined Collins Stewart Limited in 1999, and left there in 2005 when he was part of the founding team at Fairfax I.S. PLC. Paul has extensive corporate finance experience and during his time at Collins Stewart and then at Fairfax, he led over 75 IPOs and secondary fundraisings on both the Official List and the AIM Market. Paul has also been involved in over 20 public takeovers acting for both the bidder and the target. He has been involved in a wide range of sectors but has particular expertise in property, financials, renewables and investment funds. Paul is the Chairman of the audit committee. Stephen Folland - Non-Executive Director, aged 52 Stephen Folland, a Jersey resident, is a fellow of the Chartered Institute of Secretaries. Since January 2008 he has been an independent non-executive director to a number of Jersey-based companies and also acts as a company secretarial consultant to offshore companies. Prior to this he was vice president of a private Swiss bank between 2005 and 2007 and before that a senior manager, latterly a divisional director, within Aberdeen Asset Management PLC, responsible for the company secretariat of listed client companies during the period 1996 to 2005. Overall, he has 20 years' experience at senior levels in the administration and compliance of investment vehicles, including private equity vehicles, in Europe, the United Kingdom and the Channel Islands. |
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