29th Apr 2014 10:17
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, is pleased to provide the following corporate update.
ESTABLISHMENT OF NEW BANK AND TREASURY FACILITIES WITH HSBC IN HONG KONG AND CIC CAPITAL LIMITED (REPUBLIC OF SEYCHELLES)
The Company advises HSBC has completed its account opening procedures.
The Company advised in the announcement of 17 February 2014, the Board will seek that all monies due to the Company be deposited into that operating account namely:
CIC Fuels Limited
Balfour Fund £675,000
Jarada Fund £675,000
CIC Gold Limited
Balfour Fund $1,300,000 (US dollars)
Jarada Fund £675,000
Both funds have advised the Company, they will wait until the Company advises the outcome of any Nomad appointment. Further as good faith, Balfour Fund has advanced GBP150,000 each for CIC Fuels and CIC Gold total being GBP300,000 as a further good faith payment.
UPDATE ON INVESTMENTS
CIC Gold Limited
CICG has advised of two new independent Director board appoints being Dr. Geoffrey P. Cowley and His Excellency Ulambayar Barsbold. Director profiles are available on the company's web site www.CICGold.com.
CIC Gold Limited is progressing its public listing and the Director appointments reflect the independence of the company from CIC Capital Ltd.
TRANSFER OF SHARE REGISTER
The Company's proposed new registrar will be effected 1 May 2014. The Company will soon after deliver the bonus dividend shares to qualified shareholders.
Enquiries
CIC Capital Ltd Stuart J. Bromley Tel: +86 136 0113 1912
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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 realise value by listing on a Stock Exchange www.CICCapital.com
Related Shares:
Cic Mining