Courage Marine

Courage Marine: Announced that the HK Exchange had granted an approval in-principle for its Introduction listing in HK. Co expects to post listing documents on website of SEHK at 21 Jun11, and for trading of Shares to commence at 9am on 24 Jun11. We note that currently there is a lack of info on grp’s pricing of its dual listing and Grp has previously issued profit warning in 1Q11, citing a very volatile and cyclical dry bulk shipping sector.