The Company announces that Mr Jeswant Natarajan, a director
and Chief Executive Officer of the Company, subscribed for
7,000,000 new ordinary shares of 0.1p each in the capital of
the Company ("Ordinary Shares"), pursuant to the Open Offer
and Subscription announced on 22 June 2012, which was
approved by the shareholders of the Company on 11 July 2012,
at a price of 0.5p per new Ordinary Share. Mr Natarajan is
now interested in 17,000,000 Ordinary Shares, representing
0.62% of the issued ordinary share capital of the
Company.
Further information please contact:
Creon Resources plc | |
Jeswant Natarajan - Chief Executive Officer | Tel: +44 (0) 20 7583 8304 +60 12 212 1332 |
Daniel Stewart & Company plc | |
Nominated Adviser & Broker | |
Paul Shackleton/Tessa Smith | Tel: + 44 (0) 20 7776 6550 |
GTH Communications Limited | |
Toby Hall/Suzanne Johnson-Walsh | Tel: + 44 (0) 20 3103 3900 |
The Company's Investment Policy is to invest
principally, but not exclusively in the resources and/or
resources infrastructure sectors, with no specific national
or regional focus. The Company may be either an active
investor and acquire control of a single company or it may
acquire non-controlling shareholdings.
The proposed investments to be made by the Company may be
either quoted or unquoted; made by direct acquisition or
through farm-ins; may be in companies, partnerships, joint
ventures; or direct interests in resources projects. Target
investments will generally be involved in projects in the
exploration and/or development stage. The Company's
equity interest in a proposed investment may range from a
minority position to 100 per cent. ownership.
The Company will initially focus on projects located in the
Middle East and Asia but will also consider investments in
other geographical regions.
The Company will identify and assess potential investment
targets and where it believes further investigation is
required, intends to appoint appropriately qualified advisers
to assist.
The Company proposes to carry out a project review process in
which all material aspects of any potential investment will
be subject to due diligence, as appropriate. It is likely
that the Company's financial resources will be invested
in a small number of projects or potentially in just one
investment which may be deemed to be a reverse takeover under
the AIM Rules.
Where this is the case, it is intended to mitigate risk by
undertaking an appropriate due diligence process. Any
transaction constituting a reverse takeover under the AIM
Rules will require
Shareholder approval. The possibility of building a broader
portfolio of investment assets has not, however, been
excluded.
The Company intends to deliver shareholder returns
principally through capital growth rather than capital
distribution via dividends. Given the nature of the
Company's Investing Policy, the Company does not intend
to make regular periodic disclosures or calculations of net
asset value.
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