Execution of agreements
China Century Capital Limited (ASX: CCY) announced today that agreements to acquire Jinji Resources have been successfully executed.
Below is the indicative timetable for the completion of the transaction.
|26 July 2011 (completed)||ASX announcement of transaction|
|29 August 2011 (completed)||Execute Share Purchase Agreement|
|19 September 2011||Dispatch of Notice of Meeting
and Independent Expert’s Report
|19 October 2011||General Meeting|
|26 October 2011||Completion under Share Purchase
The transaction, which is subject to shareholder approval and regulatory compliance, will see China Century Capital increase its current net asset by $6.2 million, most of which are resource assets listed on the Australian Stock Exchange.
Chief Executive Officer Dan Kao said today "the completion of the formal agreement demonstrates the commitment and discipline of all parties in completing this major transaction."
Jinji Resources founder and Managing Director Charlie Nakamura said today "there are excellent synergies coming out of this transaction. We are extremely excited about the new opportunities and development of the Company. The combined entity will have the capability of identifying and acquiring new projects, adding value to the Company, bringing benefits to all the shareholders.