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SOLGOLD PLC — Director's Dealing 2013
Sep 26, 2013
4848_rns_2013-09-26_d0785db2-bb9e-4e92-adc3-215ad81ee750.html
Director's Dealing
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RNS Number : 9548O
SolGold PLC
26 September 2013
26 September 2013
SolGold Plc
("SolGold" or the "Company")
Announcement to London Stock Exchange
Holdings in Company
Updated Directors Interests in Shares
Pursuant to AIM Rule 17, and in accordance with the Disclosure and Transparency Rules ("DTR"), SolGold plc (the "Company") was informed today by DGR Global Limited that, in fulfilment of its obligations under Rule 5 of the DTR, it continued to hold 54,517,440 ordinary shares. However, after taking into account the shares allotted and admitted to trading for the recent capital raising, its interest has decreased from 10.0 per cent to 9.0 per cent of the Company's issued share capital.
Also pursuant to AIM Rule 17, and in accordance with the DTR, the Company was informed today by Tenstar Trading Limited that, in fulfilment of its obligations under Rule 5 of the DTR, it acquired a further 775,600 ordinary shares in the Company pursuant to the recent capital raising and admission, taking its total shareholding to 85,308,855 ordinary shares. After taking into account the shares allotted and admitted to trading for the recent capital raising, its interest has decreased from 15.5 per cent to 14.1 per cent of the Company's issued share capital.
Director Interests
The table below sets out each director's interests in the Ordinary Shares of the Company before and after the current share placement.
| Company Director | Previous Notice | % Total | Placement Shares Issued |
Shareholding Following Placement | % Total |
| Nicholas Mather | 62,521,748 | 11.5% | 775,600 | 63,297,348 | 10.5% |
| Brian Moller | 2,156,720 | 0.4% | 145,425 | 2,302,145 | 0.3% |
| Robert Weinberg | 2,055,530 | 0.4% | 145,425 | 2,200,955 | 0.4% |
| John Bovard | 3,103,958 | 0.6% | 203,595 | 3,307,553 | 0.5% |
| Total Company | 544,044,342 | 49,840,967 | 603,895,309 |
By order of the Board
Karl Schlobohm
Company Secretary
Contacts:
Mr Alan Martin
Solgold Plc (Chief Executive Officer) Tel: +61(0)488 223 828
Mr Nicholas Mather Tel: +61 (0)7 3303 0665
SolGold Plc (Executive Director)
Mr Karl Schlobohm Tel: +61 (0)7 3303 0661
SolGold Plc (Company Secretary)
Mr Ewan Leggat / Katy Birkin Tel: +44 (0)20 3463 2276
SP Angel Corporate Finance LLP (Broker)
Mr Stephen Weir Tel: +61 (0)2 9250 0048
RFC Ambrian Limited (Nominated Advisor)
Mr Dominic Barretto / Anna Legge Tel: +44 (0)20 3664 4087
Yellow Jersey PR Limited (Financial PR)
NOTES TO EDITORS
SolGold's exploration projects are located in northern Ecuador, Australia, and the Solomon Islands. In Ecuador, they comprise a JV with Cornerstone Capital Resources on the Cascabel copper-gold project. In Australia, SolGold holds 100% of the Rannes, Mt Perry, Cracow West and Normanby Projects, all in southeast Queensland and in the Solomon Islands they comprise the Fauro Project (located on Fauro Island), the Florida/Ngella, and the Kuma license on Guadalcanal.
In July 2012, SolGold and Cornerstone Capital Resources Inc. announced that they had signed a Definitive Option Agreement whereby SolGold may acquire up to 85% of Cornerstone's 100% owned 5,000 hectare Cascabel gold-copper-silver property in northern Ecuador.
The Cascabel project is located approximately 120 km north of Ecuador's capital, Quito, 20 km south of the Colombian border, and 75 km inland from the coastal city of San Lorenzo. The copper-gold porphyry project is located within the Andean western cordillera, host to numerous Tier 1 world class copper-gold deposits through Chile, Peru, Ecuador and Colombia.
At the Rannes project SolGold has announced Indicated and Inferred resources of 18.7 million tonnes at 0.9 g/t gold equivalent (gold + silver) for 550,146 ounces of gold equivalent (296,657 ounces of gold and 10,137,736 ounces of silver; see announcement dated 23 May 2012 for details of the resource statement and gold equivalent ratios).
In the Solomon Islands, a JV partner is being sought for the Fauro project to pursue drilling of gold-copper targets defined in the 2011 exploration program. The Guadalcanal Joint Venture (GJV) with NVL Solomon Islands Limited (a subsidiary of NYSE-listed Newmont Mining Corporation) is in the process of being terminated following finalisation of divestment agreements.
SolGold's strategy is to be an integrated gold and copper discoverer, developer and miner.
SolGold's Board includes accomplished professionals with strong track records in the areas of exploration, mine development, investment, finance and law. Board and Management have significantly vested interests in the Company, holding approximately 14% of its issued share capital.
SolGold is based in Brisbane, Queensland, Australia. The Company listed on London's Alternative Investment Market in 2006, under the AIM Code 'SOLG' and currently has a total of 603,895,309 fully-paid ordinary shares, 19,608,000 options exercisable at 50p, 11,000,000 options exercisable at 28p, 8,000,000 options exercisable at 14p, and 3,000,000 options exercisable at 6p on issue.
Further details concerning the Company's key projects and personnel can be found at www.solgold.com.au.
This information is provided by RNS
The company news service from the London Stock Exchange
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