rab/abu dabbab.

Thanks Scarva.

Have reposted under Gip thread as you know what old Stollys like with posting individual stock info.It'll be deleted soon!

RAB has made no secret that they want to get involved in bigger stuff.Lets hope the bigger stuff is Abu Dabbab eh Scarva.

Anyone in the UK see Phil and Jack out lunching together perhaps?

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Closed-end RAB Special Situations fund to list on AIM

Apr-29-2005 - London-based RAB Capital plc will launch a closed-end version of its RAB Special Situations fund on May 20, listed at 100p per share alongside the firm's own shares on the Alternative Investment Market of the London Stock Exchange.

The initial investments of the new Guernsey-domiciled RAB Special Situations Company plc will be the same as those made by the Delaware-registered RAB Special Situations LP since its inception in January 2003: mainly small mining companies.

Managed by RAB chief executive Philip Richards, the Delaware fund famously returned 1,274% in its debut year, and 49% through 2004; it now has $641 million under management, according to the firm.

"One point of the new fund is to increase liquidity so that they can make larger investments in bigger projects," a RAB spokesperson told MARHedge. "So it might be that the fund and the Company end up taking their own investments, but initially they will be the same."

RAB Capital was approached with the idea of a closed-end version of the fund by London-based broker Collins Stewart Tullett plc. Their aim is to open up further distribution channels for the product and offer better liquidity to the strategy and its investors. The two firms hope to raise £100 million ($129 million) with the offering.

The new fund's minimum initial subscription is set at £25,000 ($32,000). RAB Capital will monitor the Share Register following the listing, and contact all the new shareholders to explain the risks involved in the fund.

As well, the RAB spokesperson said, the firm will have the ability to forcibly repurchase shares if it feels investors do not understand those risks.



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