Investment in Mongolia Growth Group Ltd

RNS Number : 3662J

AIM Investments PLC

29 June 2011

 



29 June 2011

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 Mongolia Growth Group Ltd

The Company is pleased to announce that it has subscribed for 42,500 common shares of CAD$3.51 per share in Mongolia Growth Group Ltd ("MGG"), a real estate and financial services investment fund focusing its operations in the emerging economy of Mongolia, which is listed on the Canadian National Stock Exchange (YAK:CNSX). The cost of this investment is CAD$149,175 (£95,131) in aggregate and represents a holding of 0.1% of the total issued share capital of MGG.

The Company took part in a private placement that formed part of a larger issue and sale by MGG of up to 5,698,006 shares at a purchase price of CAD$3.51 per common share, which raised a total of CAD$20,000,000. The closing mid market value of MGG shares at 28^th June 2011 is CAD$4.40, valuing the Company's investment at CAD$187,000 (£119,382).

This investment is in line with the Company's strategy of participating in companies that will provide investors the ability to access opportunities in emerging and frontier markets; and of participating in private placements in companies that are already listed on an international exchange but are seeking additional capital to expand operations or make acquisitions, which will return equity and/or warrants at a price set by the market or placing price.

Chairman, Mark Pajak, commented, "The investment in Mongolia Growth Group Ltd gives the Company exposure to the economic growth and exciting prospects presented by Mongolia, whilst balanced with the benefits of investing in a company which is listed on a major exchange and has its investments diversified across varied asset classes. We are very confident that this investment has the potential to offer significant value enhancement for our shareholders and, at the same time, establishes a relationship with the investee company that we hope will prove valuable in generating future investment opportunities in Mongolia.

We have been impressed by the management's track-record, current approach, transparency, communication and the fact that they have invested considerable amounts of their own capital into recent share offerings."

More detail on MGG can be found at the following website:

http://www.mongoliagrowthgroup.com/ 

For further information please contact:

AIM Investments Plc	Mark Pajak	07771 842527
Daniel Stewart & Company (Nominated Adviser and Broker)	Antony Legge, James Thomas	020 7776 6550

www.aiminvestmentsplc.com

 

END

 

 

ACQPGUPCQUPGGGB