News blog
Radiant Growth Investments Ltd
- BY: Andrew Hore |
- POSTED: 24/10/2011 |
Shell company Radiant Growth Investments Ltd has made its first investment since joining Aim.
Radiant is investing around £100,000 for a 15% stake in Rancang Istimewa Sdn Bhd, which is developing a multi buoy mooring system to deliver natural gas liquids to tanker ships. Radiant may invest up to £1.1m more in convertible preference shares.
The convertibles will convert into 45% of the company. Radiant will also receive 50% of its post tax profit.
The total cost of the project is £20m and it will take two years to complete. The company will also have a joint marketing agreement with Petronas, which should start generating revenues before the project is finished.
The deal sparked an 11.5p jump in the Radiant share price taking it to 40p, valuing the company at £29.6m.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFOctober2011_25.pdf
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