Share Price
| Stock | CRHL | |
| GBX | 2.5 | |
| Change | +53.37% |
Last Updated (UK Time)
Sat Sep 4 18:40:03 2010
more information ......
Metals Prices
| Copper | 7631.50 | |
| Aluminium | 2128.50 | |
| Zinc | 2132.50 | |
| Lead | 2137.00 | |
| Nickel | 21875.00 | |
| Tin | 21450.00 | |
Cash Ask (USD / MT)
for 03 Sep 2010
Latest News
Bridging Loan and Galaxy Update Creat Resources Holdings Ltd (“CRHL”) announc... more.... | |
The Company is pleased to advise that, further to the announcement on 20 August 2010, Marvel... more.... | |
The Company is pleased to advise that Marvel Link Group Limited, the Company's most sign... more.... |
RSS News Feed
| Update on Placings |
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RNS Number : 8410D Creat Resources Holdings Ltd 9 December 2009 Creat Resources Holdings Limited Update on Placings Further to the announcements dated 16, 24 and 25 November 2009 concerning conditional placings of new Ordinary shares in Creat Resources Holdings Limited ( the "Company") (AIM:CRHL), the Company announces that it intends to vary the subscription agreements entered into with three new investors from the People's Republic of China to remove certain conditions. The Company then intends to issue 114,000,000 new Ordinary Shares to the three new investors at a price of £0.05 per Ordinary Share which will be admitted to trading when the Company is restored to trading on AIM. The Company will use part of the £5.7m funds raised by the subscriptions to acquire 6,818,182 ordinary shares in Galaxy Resources Limited ("Galaxy") at A$0.88 per ordinary share (the "Initial Subscription") on or about 21 December 2009. Galaxy is an ASX listed Australian mining and materials company focusing on lithium and tantalum exploration and production. As previously announced, Creat Group Co Limited ("Creat Group"), the controlling shareholder of the Company, entered into an agreement with Galaxy on 21 August 2009 under which it agreed to subscribe for 19.9% of the issued share capital of Galaxy (the "Galaxy Equity Agreement"). Creat Group also entered into a debt facility agreement with Galaxy for the financing of its lithium project. It remains the intention of Creat Group to nominate the Company as the subscriber under the Galaxy Equity Agreement so that the Company will subscribe for new ordinary shares of Galaxy representing approximately 19.9% of Galaxy's enlarged ordinary share capital (the "Galaxy Subscription") by way of the Initial Subscription and a further subscription in respect of the balance to occur on or about 31 January 2009 (the "Second Subscription"). However to enable the Company to subscribe for the Second Subscription, Galaxy will be required to obtain the approval of Galaxy's shareholders. It is Galaxy's intention to seek this approval in late January 2010. As previously announced, the Second Subscription will constitute a reverse takeover under Rule 14 of the AIM Rules for Companies (the "Proposed Reverse Takeover"), requiring the issuance by the Company of an AIM admission document and the approval of the Company's shareholders at a general meeting prior to completion of the Proposed Reverse Takeover. It is the Company's current intention that the admission document will be sent to shareholders in January 2010. As previously announced, in order to fund and complete the Proposed Reverse Takeover, the Company will need to raise further funds by way of an additional placing of Ordinary Shares or through other forms of finance ("Additional Funding"). The Company is currently seeking to secure such Additional Funding. Shareholders should note that, other than the documents relating to the conditional placings (details of which have already been released by the Company), none of the documentation relating to the other transactions (including the Proposed Reverse Takeover) contemplated in this announcement has been agreed. Accordingly, the matters set out in this announcement remain subject to change. Shareholders should pay attention to the conditions attached to the arrangements detailed above and should note in particular that there is no certainty that the Galaxy Subscription, the Proposed Reverse Takeover or the Additional Funding will take place as anticipated. The Company will make further announcements in due course updating shareholders on the completion of the placings, Proposed Reverse Takeover and the Additional Funding. For further information please visit www.creatresources.com or contact: Creat Resources Holdings Limited Yasmine Healy Tel: +61 (0) 36216 2705 Grant Thornton Corporate Finance Nominated Adviser Philip Secrett, Maureen Tai Tel:+44 (0) 20 7383 5100 Westhouse Securities Limited Broker Tim Metcalfe, Richard Baty Tel: +44 (0) 20 7601 6100 First City (China) Limited Public Relations Adviser Lei Jiang Jane Absolom Tel: +852 2854 2666 Tel: +44 (0) 20 7920 3170 |
