Purchase of own shares for cancellation

RNS Number : 5146A

Sula Iron & Gold PLC

29 December 2017

 

 29 December 2017

Sula Iron & Gold plc

("Sula" or the "Company")

Purchase of own shares for cancellation

Sula announces that, following the passing of all of the resolutions at the Company's general meeting of Shareholders held on 27 December 2017, the Company yesterday completed the purchase of 532,438,356 of its own ordinary shares of 0.001 pence each ("Ordinary Shares"), being the D-Beta Shares, at price of 0.005 pence each, being the Placing Price, for a total consideration of £266,219.18 from D-Beta ("Buy-Back"). The D-Beta Shares will be held in treasury by the Company, pending their cancellation in due course. A further announcement will be made once the Company has completed the cancellation of the D-Beta Shares.  

Following the Buy-Back, but prior to the cancellation of the D-Beta Shares, the total number of voting rights in the Company will be 6,450,536,315 Ordinary Shares (being the 6,982,974,671 existing Ordinary Shares in issue, less the D-Beta Shares, which do not carry voting rights whilst they are held in treasury) and shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Defined terms in this announcement shall have the meaning set out in the announcement dated 8 December 2017 unless the context requires otherwise.

Enquiries:

Sula Iron & Gold plc
Roger Murphy (CEO)	[phone]
WH Ireland Limited (Nominated Adviser and Broker)
Tim Feather / James Sinclair-Ford	[phone]
SP Angel Corporate Finance (Broker)
Ewan Leggat	[phone]
Blytheweigh (Public Relations)
Camilla Horsfall/Nick Elwes	[phone]
Madini (Financial and Technical Adviser)
Iain Macpherson / Ilja Graulich	[phone]

 

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