Holdings in Company and Director's Interests

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: [phone]

[e-mail]

Mr Nicholas Mather                                                                                       Tel: [phone]

SolGold Plc (Executive Director)

[e-mail] 

Mr Karl Schlobohm                                                                                        Tel: [phone]

SolGold Plc (Company Secretary)

[e-mail]  

Mr Ewan Leggat / Katy Birkin                                                                     Tel: [phone]

SP Angel Corporate Finance LLP (Broker)

[e-mail]  

Mr Stephen Weir                                                                                           Tel: [phone]

RFC Ambrian Limited (Nominated Advisor)

[e-mail] 

Mr Dominic Barretto / Anna Legge                                                         Tel: [phone]

Yellow Jersey PR Limited (Financial PR)

[e-mail]  

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.

 

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