Shanta Gold raises approximately $20 million in...
("Shanta Gold" or the "Company")
Shanta Gold raises approximately $20 million in an equity placement
29 September 2010
Further to the announcement made on 22 September 2010, the Board of Shanta Gold
is pleased to announce the successful placing ("Placing") of 51,132,227 new
ordinary shares in the capital of the Company at a price of 25p per share
("Placing Shares") to raise approximately $20 million before expenses.
The net proceeds of the Placing are to be utilised in the development of the
Company's Luika Gold Mine and to continue its exploration programmes.
The Placing is conditional, inter alia, on the admission of the Placing Shares
to trading on AIM ("Admission").
The Placing Shares will, when issued, represent 28.6 per cent. of the issued
ordinary share capital of the Company as enlarged by the issue of Placing
Shares. The total number of voting shares in issue immediately following
Admission will be 178,781,096.
Application will be made to the London Stock Exchange plc for the Placing Shares
to be admitted to trading on AIM and it is expected that admission will take
place at 8.00 a.m. on 4 October 2010. The Placing Shares will, when issued,
rank pari passu in all respects with the Company's existing ordinary shares.
Walton Imrie, Executive Chairman, commented, "I am delighted that the value of
Shanta Gold has been recognised by the strong demand for the Company's stock in
this placement. We are confident that our competent team will generate value for
the shareholders in the application of the funds in building the New Luika Gold
Mine and developing its exploration assets."
For further information:
Shanta Gold Limited
http://www.shantagold.com
Walton Imrie
Mobile: +27 (0) 82 444 2851
Walter Vorwerk
Mobile: +27 (0)83 308 0080
Fairfax I.S. PLC
Nominated Adviser and Broker
Ewan Leggat / Laura Littley
+44 (0) 20 7598 5368
[HUG#1447486]
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Shanta Gold Limited via Thomson Reuters ONE
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