Exercise of Options

RNS Number : 5774T

Condor Gold PLC

21 November 2013

 

Condor Gold plc 7th Floor               39 St. James's Street         London               SW1A 1JD                   Telephone [phone]  Fax: [phone]

21 November 2013

Condor Gold plc

(''Condor'' or "the Company")

Exercise of Options and Total Voting Rights

Exercise of Options

Condor (AIM:CNR), a gold exploration company focused on delineating a large commercial resource on its wholly owned 2.33M oz gold resource at La India Project in Nicaragua, announces that is has received notice from Mark Child, the Company's Executive Chairman and CEO, to exercise 450,000 options at a price of 20 pence per ordinary share that were granted in 2008. Following the exercise of options Mark Child is now interested in 3,887,500 ordinary shares in the Company representing 10.14% of the Company's issued share capital.

Pursuant to the exercise of options the Company has received funds of £90,000 and accordingly it has issued and allotted 450,000 new ordinary shares in the Company, which on admission will rank, pari passu, with all existing ordinary shares. Application has been made for the new ordinary shares to be admitted to trading on AIM and admission is expected to take place on or around 27 November 2013.

Total Voting Rights

Following the exercise of options, the Company's total issued share capital comprise 38,323,960 Ordinary Shares of 20 pence each, with voting rights, none of which are held in treasury. Therefore this figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules.

Major Shareholders

Following the issue of new ordinary shares and based upon information on the number of shares previously supplied to the Company, the Company is aware of the following persons who hold, directly or indirectly, voting rights representing 3% or more of the issued share capital of the Company to which voting rights are attached:

Name	Number of Shares	Percentage of issued share capital
Regent Pacific Group	3,977,274	10.38%
Mark Child	3,887,500	10.14%
Oracle Management Ltd	2,748,675	7.17%
Sentry Precious Metals Growth Fund	1,281,056	3.34%

Note (1): Executive Chairman and CEO

- Ends -

For further information please visit www.condorgold.com or contact:

Condor Gold plc	Mark Child, Executive Chairman and CEO [phone]	Luc English, Country Manager Nicaragua [phone]
Beaumont Cornish Limited Numis Securities Limited	Roland Cornish [phone] John Prior and James Black [phone]
Farm Street Media	Simon Robinson [phone]

About Condor Gold plc:

Condor Gold plc is an AIM listed exploration company focused on developing gold and silver resource projects in Central America. The Company was admitted to AIM on 31st May 2006 with the stated strategy to prove up CIM/JORC Resources in Nicaragua and El Salvador. Condor has seven 100% owned concessions in La India Mining District ("La India Project"); three 100% owned concessions in three other project areas and 20% in the Cerro Quiroz concession in Nicaragua. In El Salvador, Condor has 90% ownership of four licences in two project areas.

Condor's concession holdings in Nicaragua currently contain an attributable CIM/JORC compliant resource base of 2.33M oz gold equivalent at 3.9 g/t in Nicaragua and an attributable 1,004,000 oz gold equivalent at 2.6g/t JORC compliant resource base in El Salvador. The resource calculations are compiled by independent geologists SRK Consulting (UK) Limited for Nicaragua, and Ravensgate and Geosure for El Salvador.

Disclaimer

Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.

 

END

 

 

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