Issue of equity

RNS Number : 1491C

CSS Stellar PLC

26 April 2012

 



26 April 2012

CSS Stellar plc

(the "Company")

Issue of equity

The Company is pleased to announce that it has conditionally placed 22,222,222 new ordinary shares of 1p each at a price of 2.25p (the "Placing Shares") with new investors ("the Placing") to raise £500,000. The Placing will provide the Company with additional funds to provide its share of the costs to undertake the next phase of exploration of the Dolgellau gold-belt in North Wales.

David Lenigas, Chairman, commented: 'Following the highly promising findings of the Snowden independent technical report, which showed potential for 130,000 - 500,000 ounces of gold, we are now funded to accelerate the current exploration programme of the largest known gold province in the UK."

Application will be made for the Placing Shares, which will rank pari passu with the existing

ordinary shares, to be admitted to AIM. Dealings in the Placing Shares are expected to commence on or around 14 May 2012 ("Admission").

Following Admission, there will be 92,230,985ordinary shares in issue. This number 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.

Following the issue and allotment of the Placing Shares and Admission, the interests of the

Directors and those shareholders who are interested, where known, in 3% or more of the

issued share capital of the Company will be as follows:

Directors
David Lenigas	1.7%
Over 3 %
Victorian Gold Ltd	20.1%
Gledhow Investments plc	9.6%
Lynchwood Nominees	6.9%
Amberdays Limited	7.2%

For further enquiries, please contact:

CSS Stellar plc                                                 David Lenigas Charles Wood Lincoln Moore	[phone]
Northland Capital (Nominated Adviser & Broker) Luke Cairns Edward Hutton	[phone]
Pelham Bell Pottinger - (Investor and Media Relations) Charlie Vivian Daniel Thöle	[phone]

 

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