Director Dealing and exercise of options

RNS Number : 5612T

Argos Resources Ltd

21 July 2015

 

ARGOS RESOURCES LIMITED

("Argos" or "the Company")

Director Dealing and exercise of options

Argos Resources Limited (AIM: ARG.L) was informed on 21 July 2015 that, on that date, Argos Georgia Limited ("AGL") distributed 16,578,850 ordinary shares of 2 pence each in the Company ("Ordinary Shares"), to its underlying shareholders at no cost. Ian Thomson, Chairman of the Company, is a director and shareholder of Argos Georgia Limited and a beneficiary of the distribution, as outlined below.

Pursuant to this distribution by AGL:

·     AGL is now interested in 700,000 Ordinary shares, representing 0.32% of the issued share capital of the Company;

·     Ian Thomson received 5,633,088 Ordinary Shares and is now interested in a total of 27,844,701 Ordinary Shares, representing 12.7 per cent. of the issued share capital of the Company, in addition to those shares held by AGL; and

·     Iain Aylwin received 6,666,578 Ordinary Shares and is now interested in a total of 20,117,728 Ordinary Shares, representing 9.16 per cent. of the issued share capital of the Company.

The Company was also notified on 21 July 2015 that, on that date, James Ragg, a non-executive director of the Company, exercised options (the "Options") in respect of 200,000 Ordinary Shares (the "New Ordinary Shares") at a price of 2 pence per Ordinary Share, and has  disposed of 150,000 Ordinary Shares at a price of 7.4 pence per Ordinary Share.  Mr Ragg is now interested in a total of 200,000 Ordinary Shares representing 0.09 per cent of the issued share capital of the Company.

The Options were granted to Mr Ragg on 12 November 2009, prior to the Company's admission to trading on AIM.

Application has been made for the New Ordinary Shares to be admitted to trading on AIM ("Admission") and Admission is expected to occur on or around 27 July 2015.  The New Ordinary Shares will rank pari passu with the existing Ordinary Shares.

Following Admission, the total issued share capital of the Company will increase to 219,713,205 Ordinary Shares, all of which have voting rights.

The above figure of 219,713,205 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

For further information:

Argos Resources Limited ([phone])

www.argosresources.com

Ian Thomson, Chairman

John Hogan, Managing Director

Cenkos Securities plc (Nomad & Broker) ([phone])

Derrick Lee

Neil McDonald

Citigate Dewe Rogerson (Communications Adviser) ([phone])

Martin Jackson

Shabnam Bashir

 

END

 

 

MSCEASXEADSSEFF