Investment Update & Appointment of Executive Dir. (0497D)
16 Mars 2011 - 11:41AM
UK Regulatory
TIDMAIM
RNS Number : 0497D
AIM Investments PLC
16 March 2011
AIM Investments plc ("the Company")
Investment Update
and
Appointment of Executive Director
The Company is pleased to provide an update on the status of its
investments made to date and report on the pipeline of investments
it is currently working on.
Investment Pipeline
The Company has entered into conditional engagements with (i) a
Peruvian retailer and wholesaler of stationery and office supplies;
and (ii) a Chinese pharmaceutical company.
In addition, it is investigating a further six potential
investments across a range of sectors from a number of different
frontier and emerging economies.
Update on Investments
Shenzen Cadro (Catic Group) Hydraulic Equipment Co. Limited
("Cadro")
Subsequent to the announcement made by the Company on 27 October
2010, Cadro has delayed the timing of its proposed IPO by means of
a reverse merger with a company on the Over The Counter Bulletin
Board ("Admission"). Over the last few years, many Chinese
companies have raised funds on the OTCBB; in 2010 alone, 78 Chinese
companies listed in the US by means of a reverse merger. However,
following negative publicity early this year arising out of filing
irregularities at several Chinese companies that listed in the US
via reverse merger, Cadro has been advised that this route to
market will not achieve the valuation that was originally expected.
Cadro has therefore delayed Admission, originally anticipated for
November 2010, until such time as a satisfactory valuation can be
achieved for its shareholders. Cadro may undertake a further
pre-IPO fundraising pending Admission. The Company has agreed to
extend the Long Stop Date of its convertible loan agreement until
31 December 2011.
Planteman S.A.
Further to the announcement made by the Company on 2 November
2010, extensive discussions have taken place to identify the most
suitable structure to achieve a stockmarket quotation for the
assets of Planteman S.A. Toronto has been identified as the most
suitable location for a public listing. Funds will be raised prior
to or on admission to acquire additional agricultural and ranching
assets within the Southern Cone of South America. The board of the
Company is confident that the admission will still be completed
later this year but it is now unlikely that the admission will take
place in the first quarter of 2011 as previously announced.
Minera Mapsa SA
Further to the announcement made by the Company on 8 November
2010, Minera Mapsa SA is in negotiations with potential operating
partners and its admission to an international exchange is still
expected to take place in 2011.
Appointment of Executive Director
The Company is pleased to announce that Mark Pajak, whose
appointment as Non-Executive Director of the Company was announced
on 15 December 2010, will become an Executive Director with
immediate effect.
The Board is in the process of identifying a suitable
replacement as Non-Executive Director.
For further information please contact:
Alexandra Eavis 08702 701 111
AIM Investments Plc Mark Pajak 0203 259 4071
Northland Capital Partners
Limited (Nominated Adviser Gavin Burnell, Edward
and Broker) Hutton 020 7492 4750
www.aiminvestmentsplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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