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.

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HOW WE USE INFORMATION

We store and use information you provide as follows:

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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.

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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

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CONTACT

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Creon Resources PLC (AMED)

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Wednesday 05 September, 2012

Creon Resources PLC

Proposed appointment of director

RNS Number : 5650L
Creon Resources PLC
05 September 2012
 



For immediate release

 

Creon Resources Plc

 

("Creon" or "the Company")

              Proposed Board Appointment

 

The Company is pleased to announce that it proposes to appoint Glen Lian Seng Lau ("Glen Lau") to the board of the Company as an executive director, subject to routine due diligence to be carried out by the Company's nominated adviser, Daniel Stewart & Company. Confirmation of Mr Lau's appointment will be announced at the earliest opportunity.

 

Mr Lau, aged 47, graduated from the National University of Singapore in 1989 with a BSC in Mathematics and Economics and achieved a MSC in Financial Engineering from the same university in 2001. Glen has over 23 years' experience working in the financial sector, with a particular expertise in investment banking and fund management.

 

Mr Lau is a director of Fulton Capital Management Limited ("Fulton Capital"), and was instrumental in helping to secure the Company's joint investment agreement with Yangzijiang Shipbuilding (Holdings) Pte Ltd, as announced to the market on 17 July 2012. Fulton Capital holds 25,000,000 warrants to subscribe for ordinary shares of 0.1 pence ("Ordinary Shares") in the Company at 0.5p per Ordinary Share, exercisable at any time up to 31 August 2017. Mr Lau is a also a director of Global Tech Investments 1 Limited which owns 172,500,000 Ordinary Shares in the Company, representing 6.29% of the issued Ordinary Share capital of the Company.

 

Chief Executive Officer of Creon, Jeswant Natarajan said, "We are delighted that Glen has agreed to join the board of the Company. He has extensive investment banking, fund management and deal sourcing and execution expertise and we look forward to working with Glen in assisting the Company with its continued growth and the further development and implementation of its long term strategies."

 

- Ends -

 

For further information please contact:

 

Creon Resources plc


Jeswant Natarajan - Chief Executive Officer

Tel:  +44 (0) 20 7583 8304

         +60 12 212 1332

 

Daniel Stewart & Company plc


Nominated Adviser & Broker


Paul Shackleton/Tessa Smith

Tel: + 44 (0) 20 7776 6550

 

GTH Communications Limited


Toby Hall/Suzanne Johnson-Walsh

Tel: + 44 (0) 20 3103 3900

 

About Creon Resources plc

 

The Company's Investment Policy is to invest principally but not exclusively in the resources and/or resources infrastructure sectors, with no specific national or regional focus. The Company may be either an active investor and acquire control of a single company or it may acquire non-controlling shareholdings.

 

Investments made by the Company may be either quoted or unquoted; made by direct acquisition or through farm-ins; may be in companies, partnerships, joint ventures; or direct interests in resources projects. Target investments will generally be involved in projects in the exploration and/or development stage. The Company's equity interest in investments may range from a minority position to 100 per cent. ownership.

 

On 17 July 2012, the Company entered into a joint venture with multi-billion dollar, Singapore listed, China based shipbuilding giant, Yangzijiang Shipbuilding (Holdings) Pte Ltd ("YZJ Holdings"), in the offshore oil and gas infrastructure sector ("JV Agreement"). This joint venture with YZJ is Creon's first significant investment under its Investment Policy and represents a major endorsement of Creon's management and access to expertise and partners in the oil and gas infrastructure sector.

 

Under the terms of the JV Agreement, Creon and YZJ Holdings will each invest into the joint venture company, YZJ Offshore Engineering Pte Ltd ("YZJ Offshore"), a Singapore registered company recently set up by YZJ Holdings to be a leading player in the design and construction of marine offshore oil and gas vessels (jack-up and semi-submersible rigs). Creon will invest US$15.33 million, with YZJ Holdings and its associates investing a further US$14.67 million, into YZJ Offshore.

 

YZJ Offshore will provide marketing, procurement, front end engineering and design, and management consultancy services for the construction, fabrication and repair of oil and gas marine vessels and platforms.

 

The Directors believe that the offshore marine rig vessel market is an attractive one, underpinned by sustained high global demand and a high oil price environment. Global rig utilisation rates and day rates have been rising since early 2011, particularly for jack-up rigs. Furthermore, the Directors believe demand for newly designed rigs will be underpinned by the phasing out of the existing stock of rigs. The Directors understand that by the end of 2012, the average age of jack-up rigs will be 24 years, with almost half of the fleet older than 30 years. Based on the current stock and new rig builds in the pipeline, there could be an under supply by almost 200 jack-up rigs by 2020.The Directors believe that this potential demand represents an excellent opportunity for the joint venture.

 

The majority of the funds invested into YZJ Offshore to date have gone towards securing land rights to approximately 1.6 million square metres of prime shorefront land in Taicang, Jiangsu Province on China's east coast, some 50 miles north of Shanghai. The total cost of the land will be approximately US$65 million. Creon has the option, but not the obligation, to provide additional funding to YZJ Offshore.

 


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