Power Capital Global Ltd Joint Venture and Off-Take agreement (5516E)

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RNS Number : 5516E

Power Capital Global Ltd

13 May 2013

Power Capital Global Limited

("Power Capital" or "the Company")

Joint Venture

and Off-Take agreement

Power Capital Global Limited (AIM:PCGB), the Asia based natural resources trading and logistics group, is pleased to announce that it has, through a recently formed joint venture company known PCG Coal (Indonesia) Limited ("PCI"), entered into an off-take agreement with PT Perdana Maju Utama ("PMU") to acquire up to one million metric tonnes of thermal coal. The Company is interested in a 51% equity stake in PCI.

PMU owns a coal concession totalling approximately 4,700 hectares located in East Kalimantan, Indonesia. It is anticipated that PCI will receive its first shipments of thermal coal from PMU during the next three months. PCI's branding and marketing of the coal has commenced to its end buyers. The contracted coal volume is forecast to be delivered by PMU over a twelve-month trading period following completion of the first batch delivery.

Simon Dewhurst, CEO, commented: "The establishment of PCI and the signing of this initial off-take agreement represents a key development in the implementation of our strategy to become an established natural resources trading and logistics group in Asia. We continue to explore other opportunities in the region such as the takeover of an established road haulage network and barge loading facility serving the thermal coal producers adjacent to PMU in East Kalimantan announced previously and I look forward to making further announcements on our progress on this and other initiatives as and when appropriate."

ENDS

 
 Further information 
 
 Power Capital Global 
  Limited 
 Simon Dewhurst               Tel: +852 3695 5150 
 
 Northland Securities 
 Luke Cairns/Edward Hutton    Tel: +44 (0)20 7796 8800 
 
 GTH Communications Limited 
 Toby Hall/Suzanne Johnson     Tel: +44 (0)20 7822 7493/7492 
  Walsh

This information is provided by RNS

The company news service from the London Stock Exchange

END

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