Geo Genesis Group Limited ("Geo Genesis" or the "Company")
Proposal to arrange third party purchase of entire shareholding of Victus
Capital L.P.
Geo Genesis Group Limited (PLUS: GEOP), an emerging markets advisory and
investment company, announces that it has made a proposal to investor Victus
Capital L.P. ("Victus") to arrange for the purchase by a third party, the
identity of whom cannot yet be confirmed, of all common shares (2,307,692
shares) and warrants to subscribe for shares on a ratio of 1:1 (575,000 C Class
warrants with an exercise price of 45 pence per warrant) in the capital of the
Company held by Victus. As at the date hereof, Victus holds approximately 3.4
per cent. of the total issued share capital of the Company.
Geo Genesis is engaged in negotiations with Victus as a result of a
disagreement relating to the terms of its agreement with Victus as set out in a
subscription agreement between the parties dated in and around December 2007
(with subsequent amendments dated 13 and 14 February 2008). The Company intends
to resolve the dispute amicably as soon as practicable but cannot provide any
assurance that this will happen.
The Directors of Geo Genesis accept responsibility for this announcement.
* * ENDS * *
For further information visit www.geogenesisgroup.com or contact:
Roger Bendelac, CEO Geo Genesis Group Limited Tel: +1 (917) 969 5475
John Bridges Orange Corporate Finance Tel: 020 3301 3356
Hugo de Salis St Brides Media & Finance Tel: 020 7236 1177
Chris Welsh St Brides Media & Finance Tel: 020 7263 1177
Notes to Editors
Geo Genesis Group Limited, a Marshall Islands registered company which listed
on PLUS in April 2008, operates as an investment vehicle and/or strategic
adviser to companies based and/or operating in emerging markets, primarily
focused in China, seeking to raise capital in the EU, Hong Kong and the United
States. Its key objectives are to generate revenue and/or acquire equity
positions in investee companies, advisory clients or assets in emerging
markets. The Company is also establishing various sector specific private
equity closed-end investment companies to invest in investee companies
directly.
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