AI assistant
EXCELSIOR CAPITAL LTD — Capital/Financing Update 2012
May 13, 2012
64816_rns_2012-05-13_c4496e59-001e-4043-b569-cbcad1dfd834.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
ASX Announcement
==> picture [143 x 91] intentionally omitted <==
14 May 2012
UPDATE – PROGRESS OF SETTLEMENT WITH CMI LIMITED AND OTHERS
On 8 March 2012 Trojan Equity Limited ( TJN ) advised that it had entered into a settlement arrangement with CMI Limited ( CMI ) and others in the legal proceedings commenced by TJN in August 2011. A principal component of the settlement was that CMI complete a buyback of all CMI Class A shares via a selective capital reduction at a price of $0.95 per Class A share.
TJN is pleased to advise that at meetings of CMI shareholders today, the resolutions to approve the selective capital reduction were passed.
Barring any unforeseen circumstances, TJN should now receive payment for its 3,028,000 CMI Class A shares of $2,876,600 on 13 June 2012. Shortly thereafter, TJN should receive payments totalling $515,000 from CMI and the other respondents as a contribution towards TJN’s legal costs. At that point the legal proceedings will be dismissed.
For further information, please contact Troy Harry, Managing Director, on 07 3121 5666 or [email protected].
==> picture [65 x 65] intentionally omitted <==
GPO Box 3005 Brisbane Qld 4001 Level 12 144 Edward Street Brisbane Qld 4000 Telephone 07 3121 5666 Fax 07 3503 9250 Email [email protected] www.trojanequity.com.au ABN 88 113 436 141