Embargoed: 0700hrs 14 February 2012
Premier Management Holdings plc
("Premier Management (LSE: PMA.L - news) " or the "Company")
Update Re. Suspension and Acquisition
Premier Management, the Central Asia (Other OTC: CSRUF.PK - news) -focused natural resources investment company, wishes to update shareholders regarding the continued suspension from trading of its shares and the potential acquisition of Central Asia Resources ("CAR").
As announced on 16 November (Stuttgart: A0Z24E - news) 2011 the Company's shares have been suspended from trading on AIM as the Company has not yet implemented its Investing Policy as required by Rule 15 of the AIM Rules for Companies ("Rule 15"). The suspension from trading will be lifted once a shareholder circular is posted to the Company's shareholders.
As also announced on 16 November 2011 an acquisition of CAR requires a Rule 9 Whitewash under the Rules of the Panel on Takeovers and Mergers (the "Panel") and the above mentioned shareholder circular therefore requires clearance from the Panel.
Both the preparation of the shareholder circular and the clearing process with the Panel have taken longer than anticipated however the Company continues to make good progress with the acquisition of CAR which, notwithstanding this delay, the Company hopes to complete as soon as practicable.
The Company will issue a further update as soon as it has certainty as to the date of the posting of the shareholder circular and the lifting of the suspension from trading.
Enquiries:
There are no comments yet