ROTTERDAM , Netherlands , May 22, 2013 /CNW/ - Vitol Holding B.V. ("Vitol") today announced that its wholly-owned indirect subsidiary Vitol Energy ( Bermuda ) Ltd, acquired ownership of 5,000,000 common shares ("Common Shares") of Sterling Resources Ltd. (SLG.V) ("Sterling"), representing approximately 1.62% of the issued and outstanding Common Shares.
As a result of this transaction, Vitol controls 48,490,923 Common Shares, representing approximately 15.72% of the issued and outstanding Common Shares.
The Common Shares were acquired through the facilities of the TSX Venture Exchange for the average purchase price of C$0.65 per Common Share. The Common Shares were acquired for investment purposes and Vitol and/or one or more of its affiliates, depending on market and other conditions, may from time to time increase or decrease its holdings of Common Shares or other securities of Sterling.
A copy of the early warning report being filed by Vitol with the applicable securities regulators will be available on SEDAR (www.sedar.com).
SOURCE: Vitol Holding B.V.
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or to obtain a copy of the early warning report filed under applicable securities laws, please contact: Andrea Schlaepfer, telephone: +44(0)207973 4200.