15 Jun 2012 09:30
Release of EBT and Treasury Shares
Exercise of share options
The Company announces that it has requested Maitland Trustees Limited ('Maitland'), Trustee of the Company's Employee Benefit Trust ('EBT'), to release 37,997 ordinary shares of 5p each in the Company ("Shares") to satisfy the Company's obligations for employee share options exercise. The exercise price for the options was 90.75 pence per Share.
In addition, the Company has also issued 35,733 of treasury Shares to satisfy the exercise of share options. The price for these options was 82 pence per share.
EBT Shareholding
Following the above release, the EBT holds a total of 493,588 Ordinary Shares in Avocet, representing less than 0.2 per cent of the share capital in issue of the Company.
Total Voting Rights
The Company holds 559,105 ordinary shares in treasury representing less than 0.3 per cent of the total ordinary shares in issue. The total number of voting rights (being ordinary shares in issue less those held in treasury) amounts to 198,987,605.
For further information please contact
Avocet Mining PLC | BuchananFinancial PR Consultants | J.P. Morgan CazenoveLead Broker | Arctic SecuritiesFinancial Adviser & Market Maker | SEB Enskilda Market Maker |
Brett Richards, CEOMike Norris, FDAngela Parr, IR | Bobby MorseJames Strong | Michael Wentworth-StanleyNeil Passmore | Arne WengerPetter Bakken | Fredrik Cappelen |
+44 20 7766 7676 | +44 20 7466 5000 | +44 20 7588 2828 | +47 2101 3100 | +47 2100 8500 |
Notes to Editors
Avocet Mining PLC is a gold mining and exploration company listed on the London Stock Exchange (Ticker: AVM.L) and the Oslo Børs (Ticker: AVM.OL). The Company's principal activities are gold mining and exploration in West Africa.
In Burkina Faso the Company owns 90% of the Inata Gold Mine. The deposit at Inata currently comprises a Mineral Resource of 3.46 million ounces and a Mineral Reserve of 1.85 million ounces. The Inata Gold Mine poured its first gold in December 2009 and produced 167,000 ounces of gold in 2011.
Other assets in Burkina Faso include eight exploration permits in surrounding the Inata Gold Mine in the broader Bélahouro region. The most advanced of these projects is at Souma, some 20 kilometres from the Inata Gold Mine, where a Mineral Resource of 0.56 million ounces exists.
In Guinea, Avocet owns twelve exploration licenses in the north east of the country. Mineral Resource development has been ongoing since 2005 and the project at Tri-K is the most advanced. Within the Tri-K project, Koulékoun has a Mineral Resource of 1.83 million ounces and Kodiéranof 0.4 million ounces.