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Alliance News Detail


Global Resources CAD4.4 Million Sale Of Merrex Gold Stake Cancelled

[ 06 Dec 2016 15:54 ]

LONDON (Alliance News) - Global Resources Investment Trust PLC said Tuesday its agreement to sell 26.1 million shares in Merrex Gold has been cancelled after a disagreement with the buyer.

Global Resources noted it had previously agreed to sell the Merrex stake for CAD4.4 million but the deal has now been cancelled. Global Resources said the shares continue to be valued at the same price.

Global Resources also said that LIM Asia Multi-Strategy Fund Inc continues to hold a GBP1.5 million convertible unsecured loan in the company, but it is confident this can be repaid from further portfolio realisations. Following the repayment of that convertible loan, there will remain in issue GBP1.2 million of loan stock, said Global Resources.

Shares in Global Resources were down 7.1% at 6.50 pence Tuesday afternoon.

By Adam Clark; adamclark@alliancenews.com

Copyright 2016 Alliance News Limited. All Rights Reserved.


Global Resources CAD4.4 Million Sale Of Merrex Gold Stake Cancelled - Alliance News

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