OMAN, Sept. 11, 2012 /CNW/ - In accordance with regulatory requirements, MB announces that Mawarid Offshore Mining Ltd. ("Mawarid"), a wholly-owned subsidiary of MB, completed today the second and final tranche of its subscription for common shares of Nautilus ("Nautilus Shares") pursuant to the subscription agreement entered into between Mawarid and Nautilus on July 31, 2012. Pursuant to the subscription agreement, on September 11, 2012, Mawarid purchased an additional 18,433,811 Nautilus Shares at Cdn.$0.90 per share, resulting in MB and its affiliates beneficially owning or controlling 39,636,897 shares representing approximately 16.9% of the outstanding Nautilus Shares (based on 234,097,865 outstanding Nautilus Shares as at the date hereof, as advised by Nautilus).
The additional Nautilus Shares were acquired for investment purposes only. Depending upon the market and other conditions, MB and its affiliates may acquire additional securities of Nautilus.
SOURCE: MB Holding Company LLC
For further information:
Mr. Sushil Srivastava
MB Holding Company
LLC P.O. Box 695, Muttrah
Postal Code 114, Sultanate of Oman