African TV




Lawyers - Legal Representation






Archives

April 2014
M T W T F S S
« Mar    
 123456
78910111213
14151617181920
21222324252627
282930  

Page added on May 16, 2012

Global News | Comment Feed: RSS 2.0 Printable versionPrint This Post Print This Post

CRM subscribes to Convertible Bond

CRM subscribes to Convertible Bond thumbnail

African Minerals Ltd (the “Company” or “AML”) confirms that, following receipt of relevant regulatory approvals, China Railway Materials Company Limited  (“CRM”) has completed its subscription for $50m of the Company’s 8.5% convertible bonds due 2017 (“the Bonds”) through CRM (Hong Kong) Holdings Ltd, its wholly owned subsidiary. These Bonds have been issued today, and are on the same terms as, and form a single series with, the $350m of convertible bonds issued on 10 February 2012.
 
As previously announced, CRM has the right to maintain its shareholding in the Company at up to 12.5% in the event of any future equity issue by AML. CRM’s subscription to the Bonds, which represents 12.5% of the enlarged issue of the Bonds, removes any potential dilution of their shareholding if the Bonds convert into fully paid common shares of the Company.

The common shares to be issued upon conversion of the Bonds issued to CRM would represent approximately 4.6 million common shares or 1.4% of the current total number of issued and outstanding common shares of the Company. 

Mr. Liu Guoping, CRM’s nominated director on AML’s Board, said

“We are delighted by African Minerals’ achievements in bringing Tonkolili into production in such a short period of time and are committed to working with them as supportive, long-term partners.”

Frank Timis, Executive Chairman of AML commented:

“The subscription by CRM for their full entitlement of AML’s convertible bonds underlines their commitment to AML’s growth story and also signals the support of China for our long term strategy.” 

Stay with Sierra Express Media, for your trusted place in news!


© 2012, Sierra Express Media. All rights reserved.

Share


6 Comments on "CRM subscribes to Convertible Bond"

  1. CRM Pulse on Wed, 16th May 2012 6:47 pm 

    CRM subscribes to Convertible Bond | Sierra Express Media: African Minerals Ltd (the “Company” or “AML”) co… http://t.co/13uLWWSZ #CRM

  2. CRM Pulse on Wed, 16th May 2012 6:47 pm 

    CRM subscribes to Convertible Bond | Sierra Express Media: African Minerals Ltd (the “Company” or “AML”) co… http://t.co/13uLWWSZ #CRM

  3. Pat Perdue on Wed, 16th May 2012 7:20 pm 

    CRM subscribes to Convertible Bond | Sierra Express Media: African Minerals Ltd (the “Company” or “AML”) co… http://t.co/XFiGT84D #CRM

  4. Pat Perdue on Wed, 16th May 2012 7:20 pm 

    CRM subscribes to Convertible Bond | Sierra Express Media: African Minerals Ltd (the “Company” or “AML”) co… http://t.co/XFiGT84D #CRM

  5. Higher Ed CRM Guru on Thu, 17th May 2012 9:41 am 

    #CRM CRM subscribes to Convertible Bond | Sierra Express Media: African Minerals Ltd (the “Company” or “AML”) co… http://t.co/JRI6jbxM

  6. Higher Ed CRM Guru on Thu, 17th May 2012 9:41 am 

    #CRM CRM subscribes to Convertible Bond | Sierra Express Media: African Minerals Ltd (the “Company” or “AML”) co… http://t.co/JRI6jbxM




RELATED STORIES

Search This Site



LATEST NEWS HEADLINES

ALSO IN THE NEWS

Acqua For Life goes continental, providing safe drinking water in Africa, Latin America and Asia thumbnail Acqua For Life goes continental, providing safe drinking water in Africa, Latin America and Asia

GIORGIO ARMANI CONTINUES THE PARTNERSHIP WITH GREEN CROSS TO SUPPORT PROJECTS IN SRI LANKA, IVORY COAST AND SENEGAL FOR FIRST TIME 22 April 2014 | Geneva, Switzerland: Giorgio Armani is expanding its successful Acqua for Life campaign in partnership with Green Cross International for the fourth consecutive year, targeting water-scarce communities in West Africa, Latin America […]

Share

MORE STORIES

US$4million project commissioned at Waterloo 500 youths employed thumbnail US$4million project commissioned at Waterloo 500 youths employed

HAVE YOUR SAY

HAVE YOUR SAY Share you views: What would you like to see more/less of on Sierra Express Media? Send us your ideas and include your name and the area you are writing from.

Our New Website Has a More Efficient Layout

Our New Website Has a More Efficient Layout We invite you to give us your feedback

MORE NEWS HEADLINES

BannerFans.com