RE: Jim Mellon10 Dec 2020 16:25
Condor Resources plc, the AIM listed gold and silver exploration company focused on proving a large
commercial reserve on its 1,620,000 oz gold resource at La India Project in Nicaragua, is pleased to
announce that it has raised £2.5million before expenses, by way of a private placing of 50,000,000 new
ordinary shares with a nominal value of £0.01 each at a price of 5 pence each (“the Placing”).
As part of the Placing, Condor’s Chairman Mark Child has purchased 500,000 Ordinary Shares, Roger
Davey, a Non-executive director, has purchased 400,000 ordinary shares and Galloway Limited, a company
owned by a trust of which Jim Mellon, a Non-executive director, is a beneficiary, has purchased 5,000,000
ordinary shares in the Company at a price of 5 pence per share. Following the share purchase, Mark Child’s
holding in the Company stands at 68,750,000 ordinary shares representing 11.3% of the issued share
capital (this represents a reduction of 500,000 ordinary shares from the previously reported number as
500,000 ordinary shares held in a bare trust for Mark Child’s son had been included but are now excluded
as a result of Mark’s son being over 18 years old), Roger Davey holds 400,000 ordinary shares representing
0.07% of the issued share capital and Jim Mellon beneficial interest (held through Galloway Limited) in the
Company stands at 7,000,000 ordinary shares representing 1.1% of the issued share capital.
Application has been made for a total of 50,000,000 new ordinary shares (the “Placing Shares”) to be
admitted to trading on AIM (“Admission”) on 16 March 2012. The Placing Shares will rank pari passu and
have the same voting rights as the existing ordinary shares. Following Admission there will be 610,279,086
ordinary shares in issue.
Ocean Equities Limited was the sole broker for the Placing. The placement monies will be used to
implement a further exploration drill programme on Condor’s flagship La India Project in Nicaragua and
cover certain cash installment payments due in connection with the acquisition of the Espinito Mendoza
concession as announced on 24 August 2011. slippery think the ones you mentioned were regent pacific although jim purchased 38kshares at 160 just after regent