This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Purchase Of Further Shares In Afferro Mining Inc.

Acquisition gives IMIC control over 18.12% of Afferro's voting rights

LONDON, UK, June 27, 2013 /CNW/ - International Mining & Infrastructure Corporation plc ("IMIC")(AIM: IMIC), the company focused on unlocking the value of African iron ore through infrastructure development and strategic investments in junior miners, announces it has purchased an additional 8,588,000 shares in Afferro Mining Inc. ("Afferro") representing approximately 8.18% of Afferro's issued and outstanding shares.

The shares were acquired at an average price of 79.56p per share (approximately Cdn. $1.28 based on the Bank of Canada closing exchange rate of 1.6052 Cdn.$ per £ for June 26, 2013) on the open market of the AIM Market of the London Stock Exchange. Following this purchase, IMIC holds 19,031,342 common shares in Afferro Mining Inc. representing 18.12% of Afferro's issued and outstanding shares.

Haresh Kanabar, IMIC's Chairman, said: "After the announcement on Monday of our recommended agreement to acquire Afferro, it was expedient for us to acquire further Afferro shares in the market. We now hold 18.12% of Afferro's voting rights and look forward to the completion of the acquisition following the relevant shareholder and regulatory approvals."

IMIC's address is 40 New Bond Street, London W1S 2RX, United Kingdom.

About IMIC

International Mining Infrastructure Corporation plc (IMIC), in conjunction with its privately held strategic partner African Iron Ore Group (AIOG), is working to unlock value in the metals and mining industry in West and Central Africa by providing infrastructure solutions, for railways, deep-water ports, power and/or iron ore beneficiation, that will allow the region's emerging iron ore projects to develop into globally significant export operations.

IMIC and AIOG are well positioned to partner African host countries in the delivery of infrastructure arrangements, and to assist with initiatives that best address the long-term aspirations of their governments and people.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,769.55 +297.18 1.80%
S&P 500 1,985.85 +34.49 1.77%
NASDAQ 4,776.2540 +68.4790 1.45%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs