Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

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For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
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  • to enable you to participate in interactive features of our service, when you choose to do so;
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  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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CIC Mining Resources (CICC)

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Wednesday 30 January, 2013

CIC Mining Resources

Working Capital Funding

RNS Number : 6412W
CIC Mining Resources Ltd
30 January 2013
 



 

 

CIC Mining Resources Ltd.

 

("CIC" or the "Company")

 

Working Capital Funding

 

 

The Board of CIC is pleased to announce that it has agreed that Balfour Fund (ÒBalfourÓ) will provide the Company with an additional £669,054 of working capital for the Group. Funding is expected to be received by the Group during the current quarter.  Balfour has already advanced loans of £170,000 to the Company in August and November 2012.  In consideration for the funding, Balfour will be sold for 33,562,170 existing CIC shares (plus an equivalent number of warrants) representing approximately 22 per cent. of the CompanyÕs current issued share capital. The sale equates to a price per CIC share of approximately 2.5 pence. This price was agreed at that date of the initial loans were received in 2012 and equated to the CompanyÕs share price at the time.

As stated in note 17(d) to the audit accounts of the Company for the year ended 31 January 2012, the principle shareholder of Benxi Steel Group (ÒBenxiÓ), Mr Quan Hao, participated in a fundraising in the Company in 2005 in return for which he was issued with 33,562,170 new CIC Common Shares (the ÒHao SharesÓ). Separately, the Company has been providing advisory services to Hao related companies since 2005. The value of these services equates approximately to the value of Hao Shares. Pending payment for those services, the Company has retained security over the Hao Shares.  Each share has one warrant at 2.5 pence exercisable 31 July 2014. Mr. Hao has agreed that the Hao Shares be sold for the benefit of CIC to settle the debt owed to CIC by Hao related companies.

The sale of the Hao Shares is a related party transaction, being inter alia a transaction between Mr. Hao who is a substantial shareholder (approximately 22%) in the Company and CIC. The Directors of CIC consider, having consulted with Cairn Financial Advisers LLP, the CompanyÕs Nominated Adviser, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.

 

Enquiries

 

CIC Mining Resources Ltd

Stuart Bromley

Tel: +86 136 0113 1912

 

Nominated Adviser

Cairn Financial Advisers LLP

Tony Rawlinson

Tel: +44 (0)207 148 7900

 

 

 

 

 



 

CIC Mining Resources Ltd

The Company is an advisory company, operating primarily in the mining and energy infrastructure sectors. The Company seeks to provide advisory services to entities operating at various stages of development, and the exclusive right to control the public listing process of any client company if the client company is an unlisted company.

 

Mining and energy infrastructure companies or projects will include those involved in the exploration for, and extraction of, base metals, precious metals, bulk commodities, thermal and metallurgical coals, industrial metals, hydrocarbons, renewables and new technologies, including single-asset as well as diversified natural resources companies.

 

The core services provided by CIC Mining Resources are: the Advisory Service which provides a range of technical, project management, strategic and commercial services; the Strategic Investment Service which helps companies source investment from industry partners for which the Company will typically receive an equity interest; and Advice on Listings where the Company helps the client realise value by listing on a Stock Exchange. www.cicresources.com

 


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