"KBL Mining Limited (ASX:KBL) ("KBL" or "the Company") advises that it has received two Notices from Capri Trading Pty Ltd the holder of $10M of secured Notes in the Company pursuant to a Note Deed dated 6 March 2013.
The first Notice advised that in accordance with clause 3.3(b)(ii) of the Note Deed, it has assigned its right, title and interest in the Note Deed (including but not limited to its right, title and interest in the Security) to RIKID511 Pty Ltd (ACN 602 701 351) which, based on a ASIC search is a company which has one share on issue held by Capri Trading.
The second Notice received indicates that in accordance with clause 10.2(b) of the Note Deed, that the new owner of the Notes RIKID511 Ply Ltd intends to disclose the terms of the Note Deed and the Security to a potential purchaser of the Notes, on a confidential basis such that the potential purchaser shall make no further disclosure of the terms of the Note Deed and the Security.
Based on the above information directors conclude that the notes are in the process of being sold to a new party.
KBL will provide further updates as more information is received."
someone wants what the note can get them.
KBL Price at posting:
3.4¢ Sentiment: None Disclosure: Held
