Watch the latest episode of focusIR Fireside Chats: Why Edinburgh Investment Trust Is Backing Turnaround Stocks for 2026 Growth. View here

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksCraven House Capital Regulatory News (CRV)

  • This share is currently suspended. It was suspended at a price of 0.125
  • There is currently no data for CRV

Investment

27 Oct 2010 16:18

RNS Number : 1168V
AIM Investments PLC
27 October 2010
 



 27 October 2010

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

 

AIM Investments Plc

(the "Company")

 

Investment in Shenzen Cadro (Catic Group) Hydraulic Equipment Co. Limited

and

Revision to Desmond Holdings Limited Loan Facility

 

The Company is pleased to announce that it has entered into a US$100,000 convertible loan agreement with Shenzen Cadro (Catic Group) Hydraulic Equipment Co. Limited ("Cadro"), a Chinese hydraulics company, in order to fund the audit expenses of Cadro's proposed listing on the Over The Counter Bulletin Board (the "OTCBB"). The loan is convertible, at the Company's discretion, into Cadro equity at a 50% discount to the issue price for the OTCBB listing.

 

Cadro is a China-based developer, manufacturer and distributer of mechanical (hydraulic) lifts and covers for trucks. It is currently seeking admission to the OTCBB by means of a reverse takeover. Cadro's unaudited financial statements show that turnover has increased year on year from $9.8million in 2007 to $16.0million in 2008 and $17.7million in 2009; with profits before tax increasing in line with turnover from $0.9million in 2007 to $1.8million in 2008 and $1.9million in 2009. Cadro's unaudited net assets at 31 December 2009 amounted to $7.66million.

 

On Cadro's admission to the OTCBB, the Company's $100,000 convertible loan will convert to shares with a value of $200,000 (based on the assumed listing price) and will be subject to a 6-month lock in period. The shareholding will represent approximately 1% of Cadro's total issued share capital. The admission is anticipated to take place in November 2010; however, there can be no assurance that the admission will occur in November or at all.

 

To fund its $100,000 investment in Cadro, the Company has drawn down a like amount under the Loan Facility from Desmond Holdings Limited ("DHL"), details of which were announced on 13 October 2010 ("the Loan Facility announcement"). The parties have since agreed that (i) drawdowns under the DHL Loan Facility are not restricted to making investments in companies referred by DHL and (ii) the issue of the Fee Shares referred to in the Loan Facility announcement is conditional only on the lifting of the suspension of trading in the Company's shares.

 

The investment in Cadro is in line with the Company's Investing Policy to fund the listing costs of companies, particularly from the emerging Asian and Latin American areas, in return for discounted equity in the companies. Cadro is the first such investment. The Company is currently pursuing a number of other similar investments, details of which it expects to announce shortly.

 

For further information please contact:

AIM Investments Plc

Alexandra Eavis

08702 701 111

Astaire Securities Plc (Nominated Adviser and Broker)

Gavin Burnell, Edward Hutton

020 7492 4750

www.aiminvestmentsplc.com

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
AGREASEXAFKEFFF
Date   Source Headline
24th Jul 20257:00 amRNSCancellation - Craven House Capital PLC
23rd Jun 202510:30 amRNSWithdrawl of 'Stmt re Share Price Movement' RNS
23rd Jun 202510:05 amRNSStatement re Share Price Movement
23rd Jun 20257:30 amRNSSuspension - Craven House Capital Plc
23rd Jun 20257:00 amRNSResignation of Nominated Adviser
27th Feb 20257:00 amRNSInterim Results
7th Feb 20254:22 pmRNSTR-1: Notification of major holdings
16th Dec 20242:42 pmRNSResult of AGM
15th Nov 20247:00 amRNSAnnual Results For Year Ended 31 May 2024
10th Sep 20247:00 amRNSInvestee company update: RoseMonkey Ltd
27th Aug 20247:00 amRNSTR-1: Notification of major holdings
23rd Aug 20242:19 pmRNSTR-1: notification of major holdings
5th Jun 20247:00 amRNSInvestee Companies' Update: Bio Vitos
28th Feb 20247:00 amRNSInterim Results
4th Jan 20247:00 amRNSResult of Annual General Meeting
29th Nov 20232:48 pmRNSAnnual Results for year ended 31 May 2023
28th Nov 20234:08 pmRNSInvestee Companies' Update
16th Nov 20239:07 amRNSInvestee Companies’ Update: Garimon and Honeydog
23rd Oct 20237:00 amRNSInvestee company update: Bio Vitos
17th Oct 20237:46 amRNSInvestee Companies’ Update: Garimon and Honeydog
29th Aug 20231:34 pmRNSInvestee company update: Bio Vitos
3rd Jul 20231:32 pmRNSInvestee company update: Bio Vitos
3rd Mar 20236:15 pmRNSPortfolio Update
27th Feb 20233:30 pmRNSInterim Results
8th Feb 20237:00 amRNSInvestee company update: Bio Vitos
27th Jan 202311:33 amRNSResult of Annual General Meeting
29th Nov 20227:00 amRNSAnnual Results for Year Ended 31 May 2022
15th Nov 20222:42 pmRNSInvestee company update: Garimon Ltd
23rd Feb 20223:01 pmRNSInterim Results
21st Jan 202212:45 pmRNSResult of AGM
23rd Dec 20213:59 pmRNSNotice of AGM
29th Nov 20216:29 pmRNSAnnual Results for year ended 31 May 2021
24th Nov 20212:55 pmRNSInvestee company update: OneBas.Com Ltd.
26th Oct 20217:00 amRNSInvestee company update: YRRO Ltd
16th Mar 20211:06 pmRNSTR-1: Notification of major holdings
18th Feb 20213:07 pmRNSInterim Results
11th Feb 202111:21 amRNSTR-1: Notification of major holdings
5th Feb 202110:44 amRNSStatement Regarding Share Price Movement
18th Jan 20212:49 pmRNSResult of Annual General Meeting
21st Dec 20207:00 amRNSNotice of General Meeting
9th Dec 20207:00 amRNSInvestee Company Update: YRRO Ltd
3rd Dec 202012:43 pmRNSAnnual Results for year ended 31 May 2020
9th Nov 20209:45 amRNSChange of Auditor
9th Oct 20203:14 pmRNSTrading Update, Change of Auditor & 2020 Results
18th Sep 202010:57 amRNSInvestee company update: Magazinos.com
22nd Jun 20201:01 pmRNSTR-1: Notification of major holdings
18th Jun 202011:06 amRNSSecond Price Monitoring Extn
18th Jun 202011:00 amRNSPrice Monitoring Extension
3rd Jun 20201:27 pmRNSTR-1: Notification of major holdings
1st Jun 20202:05 pmRNSSecond Price Monitoring Extn

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.