28 Aug 2013 15:31
28 August 2013
Legendary Investments Plc
("Legendary")
Investee Company Update - Creon Resources PLC ("Creon") ready to "Strike Steel"
Legendary, the proactive investment company, is pleased to report that its investee company, Creon Resources PLC ("Creon"), the Aim-listed resource and resource infrastructure focused investment has announced that, Jiangsu Yangzijiang Offshore Engineering Co. Ltd. ("YZJOE"), in which it has a 18.6% stake, is ready to "strike steel" on the construction of its 350ft Le Tourneau "super enhanced 116e" design self-elevating Mobile Offshore Jack-up Drilling Rig.
"Striking steel" means that the detailed engineering phase has been successfully completed and execution of the underlying project can now begin.
Further details are available at:
http://www.creonresources.com/uploads/13/Strike%20Steel%20Draft%201%20230813.pdf
For further information, please contact:
Contact: | ||
Legendary Investments Plc | Zafar Karim / Thomas Reuner
| 020 8201 3536 |
Grant Thornton UK LLP
| Colin Aaronson/ Melanie Frean / Jen Clarke
| 020 7383 5100 |
SI Capital Limited
| Nick Emerson/ Andrew Thacker | 01483 413500 |
Newgate Threadneedle | Caroline Evans-Jones | 020 7653 9850
|
About Legendary Investments Plc
Legendary is a proactive investment company that focuses on making investments in and assisting companies which exhibit the potential to generate returns of many multiples through capital appreciation. Typically, Legendary invests in small companies where there are clear catalysts for value appreciation and the companies are operating in sectors exhibiting long term growth. Examples of such sectors include technology, energy, natural resources and mining. Legendary is incorporated in the UK, which is its principal country of operation.