LSG lion selection group limited

Harrydash substantial holding PPT 22/5/02Lion Sele

  1. 4,330 Posts.
    harrydash26/5/02 10:29:18 AM
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    Try looking at Lion selection group, a junior miner with ntab of 1.10 and currently trading at 98. The actual valuation is conservative and will shortly come to the attention of the market with a continuing gold price rally. Its considered high risk but has a positive rec by one of the subscriptions
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    Thanks Harry--put Lion Selection Group down for investigation.
    Cheers,--BK. 26/5/02 11:03:28 AM
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    Lion Selection Group Limited
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    10/20/00 - Lion to Exit Consolidated Minerals
    Lion Selection Group Limited is pleased to announce that it has reached agreement with Imperial Resources Limited (Imperial) for Imperial to purchase Lion’s shares in Consolidated Minerals Limited (CSM) for $13.125 million. Lion has also granted Imperial the right to purchase its 12.5 million 30 cent options for $1.375 million at any time up to 30 June 2001 and the right of first refusal on its 20 cent options should Lion receive an offer for those options.
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    The exit by Lion from the major part of its investment in CSM will realise $14.5m, resulting in a pre tax profit of approximately $7.5 million assuming that Imperial exercises its right to purchase its 30 cent options.
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    Lion currently owns 35.0 million fully paid ordinary shares in CSM (30% of CSM’s issued capital), 12.5 million options with an exercise price of 30 cents, 10.0 million options with an exercise price of 20 cents and 2,777,778 convertible notes with a conversion price of 36 cents per note.
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    The sale is conditional upon the approval of the shareholders of CSM and represents Lion’s first divestment since it listed on the Australian Stock Exchange in July 1997.
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    Lion first invested in CSM in August 1998 when it was approached by CSM’s Managing Director, Mr Michael Kiernan, for assistance in recapitalising the former Valiant Consolidated Limited (which was under administration) and subsequently reopening the Woodie Woodie manganese mine.
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    Under Mr Kiernan’s guidance CSM has prospered and recently reported a profit of approximately $2.3 million for the 1999/2000 financial year.
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    As a Pooled Development Fund, Lion’s charter is to provide patient equity capital to help develop small and medium enterprises. Given the successful relaunch of CSM and its manganese business, Lion believes that it is now in a position to realise significant value from the investment.
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    Imperial is a company associated with Mr Kiernan, fellow directors and a group of investors.
    Cheers, BK.
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    Change in substantial holding from PPT 22/5/02 12:12:24 PM
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    LION SELECTION GROUP LIMITED 2002-05-22 ASX-SIGNAL-G
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    HOMEX - Melbourne
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    Perpetual Trustees Australia Ltd increased its relevant interest in
    Lion Selection Group Limited on 21/05/2002, from 6,192,793 ordinary
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