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22 July 2010 Prosperity Minerals Holdings Limited ("Prosperity" or "the Company") Transaction in Own Shares Prosperity Minerals Holdings Limited (AIM: PMHL.L), an iron ore trading business serving the People's Republic of China and holder of investments in entities involved in the manufacture and sale of cement and clinker in the same market and specialty real estate development properties, announces that on the 21 July 2010, the Company made a market purchase of 500,000 ordinary shares of 1 pence each ("Ordinary Shares"). The shares, which were purchased at a price of 160 pence per share, will initially be held as treasury shares and will carry no voting rights. The treasury shares will later be cancelled. Following the purchase the Company's issued share capital, excluding treasury shares, consists of 134,794,165 ordinary shares of 1 pence each. The number of shares now held in treasury is 671,000 Ordinary Shares.
Looks like all is underway. http://www.digitallook.com/news/rns/3588386-190833/PMHL-Transaction_in_Own_Shares_html
What do they do best? They entered the cement business and added considerable value in a short period of time. They are now entering the property business, will they add value? I think so. Don't get me wrong, I do think that there are risks involve in this investment but you cannot accuse them for not knowing their market. The BOD have availed themselves with experiance within the PRC property market, it just depends whether you want to invest in their change of direction. BW newfish