Phoenician Corporation IV Limited - Successful Exit of Investment

PHOENICIAN CORPORATION IV LIMITED (the "Company")

SUCCESSFUL EXIT OF INVESTMENT
 
The Directors are pleased to announce the closing of the successful exit of our entire investment in King Tech International Limited ("KTI").
 
Accordingly, the Company has received GBP422,499.93 in consideration for its holding of 6,499,999 shares in KTI (selling our shares at 6.5 pence) and will receive GBP107,917 in consideration for its outstanding option in respect of 3,083,332 shares, exercisable at 3pence (the option monies will be received early in 2012).
 
The Company will therefore receive an aggregate amount of GBP530,416.55 for its investment in KTI.
 
Commenting on the sale of KTI, the chairman of the Company, Jason Futko remarked:
 
"We are delighted that the sale of King Tech International has completed. The proceeds received by the Company have increased liquidity and continue to validate the Company's investment strategy. The Directors believe they have created a very attractive vehicle for a reverse takeover and this transaction provides the board increased flexibility in the selection of target companies. The Company is reviewing a number of potential transactions, which the Directors believe will significantly increase shareholder value. The Board will make the appropriate announcements as required."
 
About Phoenician Corporation IV Limited
 
The Company was formed with the intention of becoming a vehicle for investments in emerging market businesses that collectively such investments if owned by the Company may command a higher valuation than they would if they remained independent.
 

For more information see the Company's website: www.phoenicianfunds.com.  It is the Company's intention to continue to enhance its balance sheet through the acquisition and sale of assets whilst it searches for an acquisition target.
 

"THE DIRECTORS TAKE RESPONSIBILITY FOR THIS STATEMENT"
 

For further information, please contact:
 
Corporate Adviser:
 
City & Westminster Corporate Finance LLP
 
Gerard Thompson & John May
 
2nd Floor, Stanmore House
 
29-30 St. James's Street
 
London
 
SW1A 1HB
 
Telephone: 0044 20766 0080
 
Jason Futko
 
Phoenician Corporation IV Limited
 
2nd Floor, Olde Towne Marina
 
West Bay Street
 
Sandy Port
 
N 4825
 
Nassau
 
Bahamas
 
jfutko@gmail.com 

 
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