MIK 0.00% 1.5¢ mikoh corporation limited

Seems like Hot Copper did not pick up this announcement. Here it...

  1. 85 Posts.
    Seems like Hot Copper did not pick up this announcement. Here it is for those that have not seen it.

    MIKOH Increases Ownership of Kollakorn

    The directors of MIKOH Corporation Limited (ASX: MIK) are very pleased to announce that as at 30 June 2012 the Company’s ownership of Kollakorn Co., Ltd (“Kollakorn”)will have increased to 28.70%.

    This increase in ownership is due to the continued funding provided by the Company to Kollakorn through the Kollakorn Convertible Notes. Since MIKOH established the $5 million convertible note facility in May 2011 it has provided Kollakorn with $2,222,589 of additional funding.

    In total, MIKOH has to date invested $5,093,715 in acquiring it's 28.70% of Kollakorn. The independent valuation placed on Kollakorn which was presented to the September 2011 Extraordinary General Meeting was in the range of $47.2 million to $59.0 million which implies a significant increase in the underlying value of MIKOH’s investment in Kollakorn over the actual cost.

 
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Currently unlisted public company.

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