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Eredene Capital PLC (ERE)

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Tuesday 12 April, 2011

Eredene Capital PLC

Statement re. Press Comment

RNS Number : 7627E
Eredene Capital PLC
12 April 2011
 



Date:                           12 April 2011

On behalf of:               Eredene Capital PLC ('Eredene' or the 'Company')

                                    For immediate release

                            

Eredene Capital PLC

 

Eredene Capital PLC (AIM: ERE), a leading AIM quoted investor in Indian ports, logistics and transport infrastructure, notes recent press coverage and confirms that it is in discussions with some of its existing shareholders and others in connection with a possible fundraising.

 

At the time of Eredene's interim statement of 10 December 2010, it was announced that the Company had postponed raising additional capital for the Ennore Container Terminal in Tamil Nadu, India, and pipeline port and infrastructure projects pending the appointment of a new non-executive Chairman. Struan Robertson was appointed to the post on 21 March 2011, and this process has therefore recommenced. The proposed fundraising is intended to raise up to £40m, and at this level the Company has received indications of support from three of its largest shareholders for approximately £22m at a price of 18p per share.

 

A further announcement will be made in due course.

 

 

Enquiries

  

Eredene Capital PLC

Tel: +44 20 7448 8000

Alastair King / Brian Mooney

www.eredene.com



Numis Securities Limited

Tel: + 44 20 7260 1000

Heraclis Economides




Redleaf Communications

Tel: + 44 20 7566 6700

Samantha Robbins / Luis Mackness

[email protected]

 

 

Notes to Editors

 

About Eredene Capital PLC

 

·     Eredene Capital PLC is a leading UK-based AIM quoted investor in infrastructure projects in India. It focuses primarily on ports, port services, logistics and distribution warehouses.

 

·     The Eredene Group has announced investments in eleven projects in India - nine in ports and port services, logistics and distribution warehouses, one in IT offices and one in a large scale, affordable housing development. Five of its investee companies are revenue generating and a sixth is taking sales deposits. Two of them are profitable and dividend paying.

 

·     Eredene trades on the Alternative Investment Market (AIM) of the London Stock Exchange. 

 


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