News blog
Asia Resources
- BY: Andrew Hore |
- POSTED: 07/01/2008 |
- COMMENTS: Add yours
Shell company Asia Resources has revealed the final details of its purchase of Lin Shoon Jewellers.
Asia Resources announced the proposed deal at the beginning of July and it has taken it six months to publish the document. Asia Resources is paying £12m in shares for LSJ. The shares are being issued at 10.95p each.
LSJ’s business encompasses gold and scrap gold right through to finished jewellery. It started trading in 1992 and has been profitable since 1993. The business made net profits of RM9.2m (£1.4m) in the year to December 2006.
Asia Resources says that it is looking for more gold-related acquisitions in Asia, Africa and Europe.
The shares rose 0.25p to 11.5p when they returned from suspension.
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