|By PR Newswire||
|November 22, 2012 03:33 PM EST||
NICOSIA, Cyprus, Nov. 22, 2012 /CNW/ - Acquisitive Investments Limited. ("Acquisitive Investments") today announced that, on November 21, 2012, Acquisitive Investments acquired 6,000,000 common shares ("Common Shares") of Global Alumina Corporation ("Global Alumina") at a price of approximately CDN$ 0.14 per Common Share (the "Transaction"). The aggregate cash consideration paid by Acquisitive Investments for the 6,000,000 Common Shares was US$ 840,000 (CDN$ 838,320 based on the Bank of Canada nominal noon exchange rate for November 21, 2012).
Immediately following completion of the Transaction, Acquisitive Investments had ownership and control over 21,000,000 Common Shares or approximately 11.5% of the Common Shares outstanding at such time.
For purposes of calculating the percentages of Common Shares owned by Acquisitive Investments, Acquisitive Investments has assumed that there were 183,331,495 Common Shares outstanding as of November 21, 2012, as disclosed by Global Alumina in its management's discussion and analysis for the three and nine month periods ended September 30, 2012, a copy of which was filed and is available on SEDAR at www.sedar.com.
Acquisitive Investments acquired ownership and control of the Common Shares that are the subject of this press release for investment purposes.
Acquisitive Investments intends to review its investment in Global Alumina on a continuing basis. Depending on various factors including, without limitation, Global Alumina's financial position, the price levels of the Common Shares, conditions in the securities markets and general economic and industry conditions, Acquisitive Investments' business or financial condition and other factors and conditions it deems appropriate, Acquisitive Investments may in the future take such actions with respect to its investment in Global Alumina as Acquisitive Investments deems appropriate including, without limitation, making proposals to Global Alumina concerning changes to the capitalization, board of directors, ownership structure or operations of Global Alumina, acquiring additional Common Shares, and/or selling or otherwise disposing of some or all of its Common Shares. In addition, Acquisitive Investments may formulate other purposes, plans or proposals regarding Global Alumina or any of Global Alumina's securities to the extent deemed advisable in light of general investment and trading policies, market conditions or other factors or may change its intention with respect to any and all matters referred to above.
Neither the issuance of this news release in connection with the matters disclosed in this news release nor the anticipated filing by Acquisitive Investments of the corresponding "early warning" report required to be filed in accordance with applicable Canadian securities laws is an admission that an entity named or otherwise referred to in this news release owns or controls any described securities or is a joint actor with another entity named or otherwise referred to in this news release.
Acquisitive Investments' address and other contact information is set forth below. For further information, including to obtain a copy, once filed, of the "early warning" report required to be filed in accordance with applicable Canadian securities laws, contact Acquisitive Investments at the address specified below.
SOURCE Acquisitive Investments Limited