Pelham takes on mining AIM listing

Pelham has picked up the PR account for the AIM listing of a new-style acquisition vehicle in the mining sector.

Diversified Mining, whose listing on AIM was announced this week, is a special purpose acquisition corporation (SPAC) created to invest in and acquire companies in the mining sector.

Although operating on a similar basis to a cash shell, which is also formed to buy assets, Diversified Mining has given itself 18 months to complete its first deal and will require the backing of 80 per cent of its shareholders to do it.

Diversified Mining will be liquidated if it has not achieved this within that timeframe.

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