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Zhongrun Resources Investment Corp's Subsidiary to Acquire Equity

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ShortonCash   Thursday, 10/11/12 09:56:10 PM
Re: clutnam post# 75
Post # of 95 
Zhongrun Resources Investment Corp's Subsidiary to Acquire Equity Shares of Noble Mineral Resources Ltd

http://www.reuters.com/finance/stocks/NMG.AX/key-developments/article/2613772

Wednesday, 26 Sep 2012 08:00pm EDT
Zhongrun Resources Investment Corp announced that its wholly owned subsidiary, a Virgin Islands-based mining industry investment company (Subsidiary A), will acquire 101.8 million common shares newly issued by Noble Mineral Resources Ltd (Noble Mineral) at AUD 0.16 per share or AUD 16,288,000 (approximately RMB 107,711,000), to acquire a 13.04% stake. Noble Mineral will then issue another 380 million common shares to a Hong Kong-based real estate group company (Company A) at AUD 68.40 million (approximately RMB 452,322,000), as well as 240.9 million options at AUD 0.23 per option. After that, Company A will hold a 32.74% stake in Noble Mineral, while Subsidiary A's holdings in it will decrease to 8.77%.

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