Ronaldsway Private Equity Plc

February 03, 2012 07:15 ET

Acquisition of Investment Portfolio

                                       Ronaldsway Private Equity plc
                                      ("Ronaldsway" or the "Company")
                              Acquisition of Ronaldsway's Investment Portfolio

The Company announces that the board of the Company and that of Athol Gold and Value Limited ("Athol") have
reached  agreement  for Athol to purchase the entire investment portfolio of the Company (the  "Portfolio).
The  consideration  for  this  purchase (the "Transaction"), will be  paid  in  ordinary  shares  in  Athol
("Consideration Shares") based on an unaudited valuation of the Portfolio and Athol ordinary shares ("Athol
Shares") agreed upon by the directors of Athol and the Board as of 25 October 2011 (the 'Valuation Date').

As  of  the Valuation date, the value of the Ronaldsway Portfolio was GBP 288,168.79 and the value  of  the
Consideration  Shares, based on the net asset value of Athol as at 25 October 2011 of 0.47  pence  and  the
closing  mid-price of Athol shares of 0.305p per share on 1st February 2012, is GBP187,000.  The  Directors
will provide updated details of the market value of both the Portfolio and the Consideration Shares to  the
Shareholders at a General Meeting.

Should the Transaction be approved by the Shareholders, the Company intends to de-list from PLUS (the  "De-
Listing")  and  distribute in specie the Consideration Shares, following payment of any  expenses,  to  the
Shareholders pro rata to their existing holdings of ordinary shares in the Company (the "Distribution"). As
the  Company would no longer have any assets following the De-Listing and Distribution, the Company intends
to be dissolved (the "Dissolution").

The  Directors  intend  shortly,  to convene a General Meeting for the Company  to  seek  approval  of  the
Transaction  and  provide  the  background to, and the reasons for, the proposed  Transaction, De-Listing,
Distribution and Dissolution.

The Directors of Ronaldsway Private Equity plc accept responsibility for this announcement.


Ronaldsway Private Equity Plc
Marcus Yeoman
+44 797 002 8442

Rivington Street Corporate Finance
Heena Karani
+44 20 7562 3393

Contact Information

  • Ronaldsway Private Equity Plc