Issue of Equity

RNS Number : 8302B

Persian Gold PLC

25 February 2011

 

25 February 2011

Persian Gold plc ("Persian Gold" or the "Company")

Issue of Equity

The Directors of Persian Gold and certain senior management of the company have exercised the following options and warrants:

	Options at 0.25p per new ordinary share	Options at 2.5p per new ordinary share	Warrants at 4.0p per new ordinary share
John James Teeling	1,600,000	300,000	937,500
James Michael Finn	1,000,000	300,000	625,000
David John Horgan	700,000	200,000	625,000
Jack Robert Teeling	1,000,000	300,000	312,500
Dr. Manouchehr Takin	-	-	150,000
Senior Management	60,000	60,000	9,363

Persian Gold has issued and allotted 8,179,363 new ordinary shares pursuant to the exercise of options and warrants as set out in the table above.

Application to the London Stock Exchange has been made for these new Ordinary Shares to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective on 2 March 2011.

The new Ordinary Shares will rank pari passu with the existing Ordinary Shares of the Company.

Following the issue of these shares the Company has 85,807,198 fully paid ordinary shares in issue and the Directors will have the following holdings in the Company:

	Number of Ordinary Shares	Percentage of issued Ordinary Share Capital
John James Teeling*	14,512,900	16.91%
James Michael Finn	7,875,400	9.18%
David John Horgan**	6,975,000	8.13%
Jack Robert Teeling	6,337,500	7.39%
Dr. Manouchehr Takin	450,000	0.52%

*     9,600,000 Ordinary Shares registered in the name of Davy Crest Nominees are beneficially owned by John Teeling.

**   2,000,000 Ordinary Shares are registered in the name of Alana Horgan, the daughter of David Horgan and 1,525,000 Shares are registered in the name of Aran Horgan, the son of David Horgan.

Enquiries:

Persian Gold plc John Teeling, Chairman David Horgan, Managing Director James Finn, Finance Director	[phone]
Nominated Adviser and Joint Broker Shore Capital Pascal Keane Toby Gibbs	[phone]
Joint Broker Optiva Securities Limited Jeremy King	[phone]
College Hill Nick Elwes	[phone]

 

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