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Legis administers new Guernsey AIM resources investment company

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Investment company Praetorian Resources has launched on London Stock Exchange’s AIM market with the aim of investing in natural resources.



The investment company listed on AIM with an initial market capitalisation of around GBP20m and will invest in a wide range of securities and other investments in precious metals, base metals, energy, industrial minerals, soft commodities, gold and diamonds and other gemstones.

Richard Lockwood, formerly at CQS New City Asset Management, and Malcolm Burne, ex-executive chairman at Golden Prospect, will head up the new company, domiciled and administered in Guernsey with Legis Fund Services.

Lockwood and Burne, along with Charles Cannon-Brookes (investment director of Arlington Group Asset Management) will form the advisory and execution team for Praetorian Resources. The men will also assist the board of directors with its investment decisions and executions.

Lockwood says: “The recent economic turmoil has not only had a severe effect on company share prices but also changed the investment criteria for many traditional institutional shareholders.

“As a result, we believe, there are many undervalued companies throughout the resources sector and with our extensive experience we are ideally placed to take advantage of the opportunities that have emerged.”

Lockwood says they decided to form the company in Guernsey and appoint Legis for the accountancy, company secretarial and administration duties because Guernsey had a long track record of success within the sector.

Legis Fund Services managing director Patricia White says: “The principles in Praetorian Resources are some of the most experienced in the finance world and their choice to use Guernsey, for the company formation and administration, underlines the jurisdiction’s position as a leading international finance centre for the investments sector.

“We have assisted the company during the lead up to its listing on AIM and we are looking forward to playing our part in supporting the company as it realises its ambitions in the coming years.”

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