CIC Capital Fund Ltd

MATERIAL CHANGE & UPDATE

RNS Number : 4367R
CIC Capital Fund Limited
27 June 2015
 

CIC CAPITAL FUND LTD.

 

("CIC Fund" or the "Company")

 

Corporate Update and Material Change

 

CIC Fund, the investment fund firm operating primarily in the mining and energy infrastructure sectors, in accordance with National Canadian Policy 51-210 is pleased to advise of the following material matters.

 

Re-Organization

The Company sole Director is Stuart J. Bromley. The Company in the near future will advise of three new independent non-executive directors to the board whom have specific fund management and investment banking expertise and one executive director.

Following the name change from CIC Capital Ltd to CIC Capital Fund Ltd a new ISIN and CUSIP number have been issued for the common shares.

CUSIP No:  12345F103   ISIN NO: CA12545F1036

The Company has applied for new ISIN and CUSIP numbers for the Special Series B Shares Non-Voting ("B Shares").

 

The Company is a Canadian public issuer not listed on any exchange. The Company will be seeking a separate listing of each of the two classes of its shares.

 

Existing Client Company Funding

CIC Gold Group Limited (CIC Gold)

CIC Fund is pleased to advise the successful Admission of CIC Gold to the Official List and to trading on the Main Market of the London Stock Exchange on 23 June 2015. The Company provided £1,725,000 in convertible loans to CIC Gold to cover listing costs and eighteen months working capital at six (6) UK pence per share.

 

Additional capital will be allocated should CIC Gold seek additional funds for gold mineral property asset acquisition. This funding will be subject to regulatory approval, retention of existing corporate advisors and appointment of leading industry technical advisors to ensure minimal risk.

 

CIC Capital Limited (CIC Capital)

The Company has provided £1,450,000 in convertible loans to CIC Capital to cover listing costs and eighteen months working capital. CIC Capital is well advanced in its application for Admission to the Official List and to trading on the Main Market of the London Stock Exchange. There is no guarantee approval of the prospectus or eligibility.

 

 

Company 2015 Shareholder Dividends

The Company's convertible loan to CIC Gold was converted on 13 January 2015 to 28,750 common shares. These shares were distributed to CIC Funds shareholders at cost by way of an in specie dividend. CIC Fund holds 5,280,000 CIC Gold shares and 28,750,000 warrants.

 

The Company expects to complete in the near future an additional four (4) convertible loans to which when converted to shares, an in specie dividend will be made to shareholders. The convertible loans will be made to fund listing costs and eighteen months working capital with the following clients:

 

Ÿ CIC Brancepeth Coal Limited                    Ÿ Sino Oil Group Limited

Ÿ Benxi Steel Limited                                   Ÿ CIC Fuels Group Limited

 

CIC Fund Relisting

CIC Fund is to seek in the near future Admission to the Specialty Fund Market of the London Stock Exchange of its Special Series B Class non-voting shares ("B Shares") by way of an introduction. 
There is no guarantee approval of the prospectus.

 

CIC Fund will also advise in the near future of a separate listing of its common shares.

 

Enquiries                                                       

CIC Capital Fund Ltd

Stuart J. Bromley CEO

Tel: +86 136 0113 1912

[email protected]

 


 

About CIC Capital Fund Ltd

CIC Fund is a Canadian public company based in China with a global footprint. CIC Fund seeks equity interests in highly prospective low risk companies by providing convertible loans to professionally advised clients.

The primary investment objective of CIC is to achieve high capital appreciation by gaining securities of private and public companies in the mineral, energy and infrastructure sectors.

CIC has established its brand name internationally and gained a reputation for its international contacts and relationships.

 

www.CICCapitalFund.com


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