Issue of shares and changes in directors' holdings

RNS Number : 4562N

Scotgold Resources Ltd

01 September 2011

 



SCOTGOLD RESOURCES LIMITED ("SCOTGOLD" OR THE "COMPANY")

Issue of shares and changes in directors' holdings

Scotgold (ASX:SGZ, AIM: SGZ) announces that following the completion of the Company's rights issue it has now issued and allotted 28,181,626 new shares, which were issued pursuant to the terms of the rights issue for a cash consideration of 5 Australian dollar cents per share (AUS$0.05 per share) (the "New Shares"). 

Application has been made for the New Shares to be admitted to the ASX and AIM markets and it is anticipated that admission to AIM will occur on Wednesday, 7 September 2011.

Following their participation in the rights issue the following changes have occurred to Mr John Bentley, the Company's Chairman, and Mr Christopher Sangster, the Company's CEO's, holdings in the ordinary shares of the Company.

Name	Holding prior to participation in rights issue	Number of New Shares purchased	Holding following participation in rights issue	Holding as a percentage of total issued share
John Bentley1	1,125,000	225,000	1,350,000	0.7
Christopher Sangster2	5,625,000	532,000	6,157,000	3.25

¹Held directly and through Smith & Williamson Nominees Limited

²Held directly and through Giltspur Nominees Limited

Filings of the above changes to directors' holdings have today been made to the Australian Stock Exchange using ASX form, Appendix 3Y.

Scotgold is also aware that Kenglo One Limited, a Significant Shareholder as defined under the AIM Rules, participated in the rights issue.  The Company understands that following the rights issue, Kenglo One Limited's revised aggregate interest in the Company's issued share capital is 17,400,000 ordinary shares representing 9.2% of the issued share capital.

A revised schedule detailing the holdings of the Company's largest twenty shareholders is available on Scotgold's website.

The total number of shares in issue following the Rights Issue is 189,510,656.

For further information please contact:

United Kingdom:

Scotgold Resources Limited	Westhouse Securities Limited	Bankside Consultants
John Bentley (Chairman) Chris Sangster (CEO)	Richard Baty / Petre Norton	Simon Rothschild /Elena Kuza
Tel: [phone]	Tel: [phone]	Tel [phone]

Australia:

Scotgold Resources Limited	Professional Public Relations
Shane Sadleir (Non-Executive Director)	Karen Oswald
Tel:       [phone] Mobile: [phone]	Tel:      [phone] Mobile: [phone]

 

END

 

 

IOEUGUGABUPGGPG