Issue of Equity

RNS Number : 9426L
SolGold PLC
10 July 2014
 

 

                                                                                                                              10 July 2014

 

SolGold Plc

("SolGold" or the "Company")

 

Announcement to London Stock Exchange

 

Issue of Equity

 

 

Following approval granted by shareholders at the Company's AGM on 8th July 2014, SolGold plc ("SolGold" or the "Company") has today issued a total of 4,360,000 Incentive Options to Directors or their nominees, of which 50% are exercisable at 14p, vesting once the SOLG share price has traded at a minimum of 20p on a 30 day VWAP basis; and 50% are exercisable at 28p, vesting once the SOLG share price has traded at a minimum of 40p on a 30 day VWAP basis.

 

The interests of each Director in the options issued today are as follows:

 

Director

Number of Options

% of Options Issued

Nicholas Mather - Executive Director

1,500,000

34.4%

Brian Moller - Chairman

1,100,000

25.2%

John Bovard - Non-Executive Director

880,000

20.2%

Robert Weinberg - Non-Executive Director

880,000

20.2%

 

The option holdings outlined above represent the total interests of each Director in the options on issue in the Company, as all previous unexercised options expired on 30 May 2014. 

 

The Company now has 652,153,202 fully paid ordinary shares on issue and admitted to trading. The Company also has the following options on issue:

 

·     12,820,000 options exercisable at 50p;

·     12,730,000 options exercisable at 28p;

·     9,730,000 options exercisable at 14p; and

·     3,000,000 options exercisable at 6p.

 

By order of the Board

Karl Schlobohm

Company Secretary

 

 

 

Contacts:

 

Mr Alan Martin

SolGold Plc (CEO and Managing Director)                                                             Tel: +61(0)488 223 828

amartin@solgold.com.au

 

Mr Nicholas Mather                                                                                                       Tel: +61 (0)7 3303 0665

SolGold Plc (Executive Director)

nmather@solgold.com.au 

 

Mr Karl Schlobohm                                                                                                         Tel: +61 (0)7 3303 0661

SolGold Plc (Company Secretary)

kschlobohm@solgold.com.au  

 

Mr Ewan Leggat / Ms Katy Birkin                                                                              Tel: +44 (0)20 3463 2260

SP Angel Corporate Finance LLP (Nomad and Broker)

Ewan.leggat@spangel.co.uk  

 

Mr Dominic Barretto / Ms Anna Legge                                                                   Tel: +44 (0)20 3664 4087

Yellow Jersey PR Limited (Financial PR)

dominic@yellowjerseypr.com  



NOTES TO EDITORS

 

SolGold's exploration projects are located in northern Ecuador, Australia, and the Solomon Islands. In Ecuador, they consist of a JV with Cornerstone Capital Resources Inc. 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. In the Solomon Islands they comprise the Fauro Project (located on Fauro Island), and the Lower Koloula, Malukuna and Kuma licenses which are located on Guadalcanal. 

 

The Cascabel copper-gold project is located approximately 180 km by sealed road north of Ecuador's capital, Quito, 20 km south of the Colombian border, and 75 km inland from the coastal city of San Lorenzo. 

 

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).  The Rannes project is currently under review.

 

In the Solomon Islands, a soil geochemical survey and 3D modelling of magnetic data is being considered at Kuma, while a JV partner is being sought for the Fauro project to pursue drilling of gold-copper targets defined in the 2011 exploration program. 

 

SolGold's objective is to create substantial shareholder value by discovering and defining world class copper-gold deposits.

 

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 13% of its issued share capital.

 

SolGold is based in Brisbane, Queensland, Australia.  The Company listed on the AIM market operated by the London Stock Exchange plc in 2006, under the AIM code 'SOLG' and currently has a total of 652,153,202 fully-paid ordinary shares on issue.  The Company also has 12,820,000 options exercisable at 50p, 12,730,000 options exercisable at 28p, 9,730,000 options exercisable at 14p, and 3,000,000 options exercisable at 6p on issue.

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
IOEGLGDRIXBBGSG

Companies

Solgold (SOLG)
UK 100

Latest directors dealings