Issue of Equity

RNS Number : 1793I

Pathfinder Minerals PLC

05 March 2010

 



FOR IMMEDIATE RELEASE                                                       5 March 2010

PATHFINDER MINERALS PLC

("Pathfinder" or the "Company")

ALLOTMENT OF NEW ORDINARY SHARES

The Board of Pathfinder Minerals Plc announces that it has today issued and allotted 22,799,999 new ordinary shares of 1p each ("Ordinary Shares") to various parties who have exercised their conversion rights in respect of £342,000 under the Convertible Loan Agreements which were approved by Shareholders on 21 December 2009.

Application has been made for these new Ordinary Shares, which, when issued, will rank pari passu with the existing Ordinary Shares in issue, to be admitted to trading on AIM. This is expected to be on 11 March 2010. Following the issue of the new Ordinary Shares, the Company has an enlarged issued share capital of 30,797,138 Ordinary Shares.

Following this issue of shares:

Sebou Oil Services Ltd has an interest in 6,666,667 Ordinary Shares, representing 21.65% of issued share capital of Pathfinder.

Hornbuckle Mitchell Trustees Limited and Nicholas Trew as Trustees of the Private Pension of N S Trew has an interest in 3,333,333 Ordinary Shares, representing 10.82% of issued share capital of Pathfinder. Nicholas Trew is a director of Pathfinder.

Swandale Limited has an interest in 3,333,333 Ordinary Shares, representing 10.82% of the issued share capital of Pathfinder.

Hill Street Investments Plc has an interest in 2,333,333 Ordinary Shares, representing 7.58% of the issued share capital of Pathfinder.

Hornbuckle Mitchell Trustees Limited and Timothy Baldwin as Trustees of the Private Pension of T E Baldwin has an interest in 2,333,333 Ordinary Shares, representing 7.58% of issued share capital of Pathfinder. Timothy Baldwin currently holds 500,000 shares in his own name. He therefore has an aggregate interest of 9.20% of the issued share capital of Pathfinder.

Peter Downer has an interest in 1,400,000 Ordinary Shares, representing 4.55% of the issued share capital of Pathfinder.

Jacqueline Ann Phelps has an interest in 1,400,000 Ordinary Shares, representing 4.55% of the issued share capital of Pathfinder.

Bryce Roxburgh has an interest in 1,333,333 Ordinary Shares, representing 4.33% of the issued share capital of Pathfinder.

Following the above conversions the Company has £164,000 outstanding under the Convertible Loan Agreements.

For further information please call:

Nicholas Trew             Pathfinder Minerals Plc           0207 834 0321           

Roland Cornish            Beaumont Cornish Limited     0207 628 3396

 

END

 

 

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