Investment in Pressfit Holdings Plc (7493N)
07 Setembro 2011 - 3:01AM
UK Regulatory
TIDMAIM
RNS Number : 7493N
AIM Investments PLC
07 September 2011
7 September
Aim Investments Plc
(the "Company")
Investment in Pressfit Holdings Plc
The Company is pleased to announce that it has entered into a
GBP95,000 convertible loan agreement with Pressfit Holdings Plc
("Pressfit"), an unquoted UK public limited company with Hong Kong
and Chinese subsidiaries.
Pressfit manufactures and distributes thin walled stainless
steel and carbon steel press fittings used in water and gas
applications. Further information about Pressfit can be found at
http://pressfitholdings.com/.
The loan is convertible, at the Company's discretion, into
961,849 fully paid ordinary shares of 0.25 pence per share at the
conversion price of 9.88 pence per share (representing 3% of
Pressfit's share capital after enlargement). Interest is payable on
the loan at an annual rate of 8% per annum.
This investment is in line with the Company's strategy of making
investments which the Board believes offer high growth
opportunities or steady cash flows and where the exit will be a
liquidity event, such as a trade sale or IPO.
Alexandra Eavis, Director, commented, "Pressfit operates in one
of our preferred sectors, manufacturing. Its operations occur
primarily in Shandong, China, one of our target emerging economies.
It manufactures an accredited and very high quality product at a
significant cost saving to its limited European competitors. We are
familiar with, and have great confidence in, the management team
who operate in Hong Kong and London, as well as China. We are
looking forward to cooperating with them more closely on future
ventures."
For further information please contact:
Aim Investments Plc
Alexandra Eavis Tel: 020 7002 1027
Daniel Stewart & Company Plc
(Nominated Adviser & Broker)
Antony Legge/James Thomas Tel: 020 7776 6550
www.aiminvestmentsplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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