24 Jan 2012 11:04
For immediate release - 24th January 2012
Creon Resources plc
("Creon", "the Company" or "the Group")
Share Price Movement
The board of directors note today's movement in the Company's share price and confirms that it knows of no specific reason for this movement.
The Company will seek investment opportunities, as set out in its investment policy, and when suitable investments are sourced will make further announcements as appropriate.
Further information please contact:
Creon Resources plc | |
Director: Guus Berting | Tel: + 44 (0) 7833 461 142 |
Daniel Stewart & Company plc | |
Nominated Adviser & Broker | |
Noelle Greenaway/James Felix | Tel: + 44 (0) 20 7776 6550 |
gth media | |
Toby Hall/Suzanne Johnson-Walsh | Tel: + 44 (0) 20 3103 3901 |
Note to Editors:
The Company's Investment Policy is to invest principally but not exclusively in the resources and/or resources infrastructure sectors, with no specific national or regional focus. The Company may be either an active investor and acquire control of a single company or it may acquire non-controlling shareholdings.
Investments made by the Company may be either quoted or unquoted; made by direct acquisition or through farm-ins; may be in companies, partnerships, joint ventures; or direct interests in resources projects. Target investments will generally be involved in projects in the exploration and/or development stage. The Company's equity interest in investments may range from a minority position to 100 per cent. ownership.
The Company will initially focus on projects located in the Middle East and Asia but will also consider investments in other geographical regions.
The Company will identify and assess potential investment targets and where it believes further investigation is required, intends to appoint appropriately qualified advisers to assist.
The Company will carry out a comprehensive and thorough project review process in which all material aspects of any potential investment will be subject to rigorous due diligence, as appropriate. It is likely that the Company's financial resources will be invested in a small number of projects or potentially in just one investment which may be deemed to be a reverse takeover under the AIM Rules.
Where this is the case, it is intended to mitigate risk by undertaking an appropriate due diligence process. Any transaction constituting a reverse takeover under the AIM Rules will require Shareholder approval. The possibility of building a broader portfolio of investment assets has not, however, been excluded.
The Company intends to deliver shareholder returns principally through capital growth rather than capital distribution via dividends. Given the nature of the Company's Investing Policy, the Company does not intend to make regular periodic disclosures or calculations of net asset value.