TIDMCICC

RNS Number : 1167G

CIC Capital Ltd

01 May 2014

CIC CAPITAL LTD ("CIC" or the "Company")

CORPORATE UPDATE

CIC Capital Ltd (AIM: CICC), the consulting and advisory firm operating primarily in the resource development and energy infrastructure sectors, provides the following corporate update.

Following the suspension of trading of the Company's shares on AIM on 1 April 2014 due to the three-month notice by the Company Nomad, to cease to act of the Company's nominated adviser, the Board of CICC has been considering how best to proceed in the best interests of its shareholders. Following a strategic review, a number of options have been considered.

The Company has built its balance sheet to progress the Company's business plans and has, since 2004, been announcing quarterly financial statements to the market. The Company is pleased to announce that it has appointed VSA Capital Limited as Financial Advisor and Gowlings (UK) LLP as Legal Advisor to progress a possible main board listing and to prepare a prospectus. The Board believes that a move to a standard listing would be in the interest of all shareholders. Accordingly, the Company shares will delisted from AIM. The Company remains a Canadian public company (public issuer).

Commenting on the Board decision, Stuart J. Bromley, Executive Chairman stated "The Company's balance sheet has grown significantly in the past two years since admission to the AIM Market in November 2011. We have exciting plans for our portfolio of businesses and we are working with advisers to make progress with individual company listings. We believe that a move to the Main Market for CICC should promote a greater correlation between the Company's financial performance and its share price and also improve market liquidity."

Enquiries

 
 CIC Capital Ltd 
  Stuart J. Bromley 
  Tel: +86 136 0113 1912 
  bromley@CICCapital.com 
 
  VSA Capital Limited 
  Financial Adviser 
  Andrew Raca 
  Tel +44 (0)20 3005 5000

CIC Capital Ltd

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

The core services provided by CIC Capital Ltd. 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 realize value by listing on a Stock Exchange www.CICCapital.com

This information is provided by RNS

The company news service from the London Stock Exchange

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