info16 Jul 2012 15:43
CICR mkt cap £2.97m at 1.95p mid (152,451,777 shares in Issue).
CICR own 9m shares in Australian listed Dragon Mountain Gold (DMG)....(1)
DMG sold the Lixian Gold Project in China to ZiJin Mining Group Co Ltd (“Zijin”) on 07 Nov 2011 for consideration of AUD $175,000,000 (“Transaction”). It is expected that DMG’s share of the consideration will be approximately $150,000,000.(2)
DMG are returning AUD$150m to shareholders on 20 Jul 12 via both dividends and a return of capital.(3)
So, of the AUS$150m being returned to shareholders on 20 Jul 12,,CICR will get 9m shares of AUS$0.4497/share (dividend) and 9m at AUS$0.1195/share by way of return of capital.
AUS$4.0473m (£2.68m or 1.76p/share) via dividends
• AUS$1.0755m (£0.71m or 0.47p/share) via return of capital
• TOTAL= AUS$5.1228m (£3.39m or 2.23p/share).
This approx. £3.39m payment,due on 20 Jul 12, is worth approx. 2.23p/share to CICR.