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MURRAY COD AUSTRALIA LIMITED — Capital/Financing Update 2013
Jun 24, 2013
65302_rns_2013-06-24_7168fb39-97e5-409f-a2f8-d943cda0701b.pdf
Capital/Financing Update
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ABN 74 143 928 625
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ASX CODE: TPR
ASX ANNOUNCEMENT 25 June 2013
Investment in strategic opportunity
Timpetra Resources Limited (the Company) has invested approximately $4.0 million to acquire approximately 4% of a listed mining company’s shares.
Further investment may be contemplated in the same vehicle as part of a broader strategy, commensurate with the Company’s cash holding. The shares in the investment are frequently traded and in sufficient volume which should ensure the Company could exit its investment if appropriate. The investee business is profitable and has cash holdings which approximate to 40% per share of the price the Company has paid for the shares it has acquired to date.
The Company continues to hold approximately $2.0m of cash and will be unlikely to pay a dividend in the near term.
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Timpetra Resources Limited Registered Office: Level 3, 70 Pitt Street SYDNEY NSW 2000 www.timpetra.com
For further information contact: Nick Geddes, Company Secretary 1300 134 875