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AAI Second Payment Update

8 May 2014 07:00

RNS Number : 5390G
Ferrum Crescent Ltd
08 May 2014
 

 

 

8 May 2014

 

Ferrum Crescent Limited

("Ferrum Crescent", the "Company" or the "Group") (ASX: FCR, AIM: FCR, JSE: FCR)

AAI Second Payment Update

 

Ferrum Crescent Limited, the ASX, AIM and JSE quoted iron ore developer in northern South Africa, today announces an update on the investment agreement signed with Anvwar Asian Investment (AAI) from Oman.

 

Under its agreement with Ferrum Crescent entered into on 16 March 2014, AAI was to make a second payment to the Group by 30 April 2014. AAI has failed to make this payment.

 

AAI has requested a delay of the payment till 26 May 2014.

 

Ferrum Crescent has been in discussion with AAI and is taking advice on the matter.

 

 

 

For more information, please visit www.ferrumcrescent.com or contact:

 

Australia and Company enquiries:

UK enquiries:

Ferrum Crescent Limited

Ed Nealon T: +61 8 9380 9653

Executive Chairman

 

Tom Revy T: +61 8 9380 9653

Managing Director

Pareto Securities Ltd (Broker)

Guy Wilkes T: +44 (0) 20 7786 4370

 

RFC Ambrian Limited (Nominated Adviser)

Sarah Wharry/James Biddle

T: +44 (0) 20 3440 6800

 

Ferrum Crescent Limited

Laurence Read (UK representative)

T: +44 7557672432

 

South Africa enquiries:

Sasfin Capital

Leonard Eiser T: +27 11 809 7500

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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