Holding(s) in Company (0575F)
April 18 2011 - 2:00AM
UK Regulatory
TIDMCSB
RNS Number : 0575F
Crosby Asset Management Inc
18 April 2011
Embargoed: 0700hrs 18 April 2011
Crosby Asset Management Inc.
("Crosby" or the "Company")
Strategic Investment in Crosby
&
Holdings in Company
Crosby Asset Management Inc., the natural resources focused
investment company, was notified on 15 April 2011 by ARA Capital
Limited ("ARA"), a company beneficially owned by Mr Arkadiy
Abramovich, that it has acquired 95,200,000 ordinary shares of
US$0.01 ("Ordinary Shares") in Crosby and now holds 26% of the
Company's issued share capital, as the Company's largest
shareholder.
ARA's strategic investment is designed to further advance the
process of identifying suitable acquisition opportunities for
Crosby in order to allow the Company to fulfil its previously
announced investing strategy of acquiring holdings in the natural
resources sector.
The Company has also been notified on 15 April 2011 of the
following shareholdings in the Company:
-- Old Church Street Holdings Limited: 93,440,711 Ordinary
Shares (25.5%);
-- ECK Partners Holdings Limited: 66,783,723 Ordinary Shares
(18.2%); and
-- Montpelier Capital Limited: 17,974,987 Ordinary Shares
(4.91%).
Old Church Street Holdings Limited is a privately owned
investment holding company that predominately invests in the
natural resources sector. Old Church Street Holdings Limited is
owned by Eqinox Trustees for a trust for which Mr John McKeon is
the primary discretionary beneficiary.
ECK Partners Holdings Limited is an investment holding company,
owned as to 95% by TW Indus Limited, a company beneficially
wholly-owned by Mr Ilyas Khan, and 5% beneficially owned by Mr
Robert Owen, a director of the Company.
Robert Owen, Chairman of Crosby, commented,
"The Board of Crosby is pleased to welcome Arkadiy Abramovich as
a new substantial shareholder in Crosby Asset Management. The
Company will continue to assess potential opportunities within its
investing strategy, and the Board continues to focus its activities
in the natural resources sector, leveraging the experience and
relationships of the Board and the Company's strategic investors.
The Board will update shareholders of its progress in due
course."
Total Voting Rights
The total number of shares in issue is 366,092,043 ordinary
US$0.01 shares. This figure may be used by shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the Company, under the Disclosure and Transparency
Rules.
For further information please contact:
Crosby Asset Management Limited
Trevor Wells / Waseem Shiraz
Tel. +44 (0)20 7399 4384
M: Communications
Ben Simons / Maria Souvorov
Tel. +44 (0)20 7920 2340/2327
Strand Hanson Limited
Stuart Faulkner / James Spinney
Tel. +44 (0) 207 409 3494
This information is provided by RNS
The company news service from the London Stock Exchange
END
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