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.
Other InformationAcquisitive 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.