China Africa Resources PLC Holding in Company (7341Z)
17 March 2017 - 2:51AM
UK Regulatory
TIDMCAF
RNS Number : 7341Z
China Africa Resources PLC
16 March 2017
China Africa Resources PLC
16 March 2017
China Africa Resources plc
("China Africa" or "the Company" or "CAF")
Holding in Company
China Africa Resources plc (LON:CAF) the AIM listed natural
resource exploration and development company has today been
informed that Paul Johnson no longer holds a notifiable interest in
the Company.
For further information on the Company, visit:
http://www.chinaafricares.com/.
China Africa Resources PLC T: +44 (0)203 778
David Linsley, Chief Executive 0655
Officer
SPARK Advisory Partners - T: +44 (0) 2033 683
Nominated Adviser 555
Sean Wyndham-Quin
Neil Baldwin www.sparkadvisorypartners.com
SI Capital Limited - Joint T: +44 (0) 1483 413
Broker 500
Nick Emerson
Andy Thacker
Beaufort Securities Limited T: +44 (0) 207 382
- Joint Broker 8300
Elliot Hance
Blythe Weigh - Financial PR
Tim Blythe, Camilla Horsfall, Nick Elwes T: +44 (0) 207 138
3204
China Africa Resources Investing Policy:
Under the AIM Rules for Companies, CAF is required to complete
an acquisition or acquisitions that constitutes a reverse takeover
within six months of becoming an AIM Rule 15 Cash Shell or it will
face suspension from trading on AIM. The Directors intend to apply
the investing policy set out below in seeking an acquisition or
acquisitions that will constitute a reverse takeover but there can
be no certainty that they will be able to do this in the specified
time frame.
The Board proposes to invest in and/or acquire companies and/or
projects within the natural resource sector but with a particular
interest in opportunities in the precious and base metals
sectors.
The Board will not be limited to a specific geographic focus. In
selecting investment opportunities, the Board will focus on
businesses, assets and/or projects that are available at attractive
valuations and hold opportunities to unlock embedded value or
where, through efficient and focused work, there is the prospect of
adding considerable value to each project, for the benefit of
shareholders.
Where appropriate, the Board may seek to invest in businesses
where it may influence the business at a board level, add their
expertise to the management of the business, and utilise their
industry relationships and access to finance.
The Company's interests in a proposed investment and/or
acquisition may range from a minority position to full ownership
and may comprise one investment or multiple investments. The
proposed investments may be in quoted or unquoted companies; be
made by direct acquisitions or farm-ins; and may be in companies,
partnerships, earn-in joint ventures, debt or other loan
structures, joint ventures or direct or indirect interests in
assets or projects. The new Board may focus on investments where
intrinsic value can be achieved from the restructuring of
investments or merger of complementary businesses.
The Board expects that investments will typically be held for
the medium to long term, although short term disposal of assets
cannot be ruled out if there is an opportunity to generate an
attractive return for Shareholders. The Board will place no minimum
or maximum limit on the length of time that any investment may be
held.
The Board will conduct initial due diligence appraisals of
potential businesses or projects and, where they believe further
investigation is warranted, intend to appoint appropriately
qualified persons to assist.
The Board believes it has a broad range of contacts through
which it is likely to identify various opportunities which may
prove suitable. The Board believes its expertise will enable it to
determine quickly which opportunities could be viable and so
progress quickly to formal due diligence.
The Company will not have a separate investment manager. The
Board proposes to carry out a comprehensive and thorough project
review process in which all material aspects of a potential project
or business will be subject to rigorous due diligence, as
appropriate. Due to the nature of the sector in which the Company
is focused the Company expects a focus on capital returns over the
medium to long term. Should opportunities arise for an early cash
return to investors, this will be considered by the Board.
It is emphasised that there is no certainty that the Company
will be able to secure an acquisition or Reverse Takeover as set
out above.
Dissemination of a Regulatory Announcement that contains inside
information according to REGULATION (EU) No 596/2014 (MAR).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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