News Flash On The Aim Market Message Board

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Gold/Mining/Energy : News Flash On The Aim Market

LSE 5.220

-0.8%

Nov 7 9:30 AM EST

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From: miningoz	5/2/2014 1:30:11 AM
	of 161

Hightex Group Plc (LON:HTIG) target price of 10p, " the Company is vigorously pursuing a number of potential contracts, including two stadia and infrastructure projects in the Middle East as well as other identified projects in Europe and Africa.". The 181 Fund Limited ("181") purchased 6,000,000 Ordinary Shares in Hightex at an average price of 0.533p and on 28 March 2014 181 purchased 1,000,000 Ordinary Shares in Hightex at an average price of 0.5p. Loan, of which $1.8m has been drawn down, will provide the Company with sufficient working capital ,Principal terms of the Loan - Coupon of 12% per annum, together with a draw-down fee of 3% and a collection fee of 0.5% per month on amounts outstanding;We believe this is good news for the company - it will increase working capital to add further projects. The stock is rated on 8.7x 2012 earnings falling to 5.4x 2013 earnings. We continue to believe the stock is undervalued and believe the scope for new contract wins will drive the share price. We reiterate our BUY recommendation with a target price of 10p.

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