Last checked at 4 Feb 2011 08:30
4 February 2011
Persian Gold plc ("Persian Gold" or the "Company")
Issue of warrants
On 2 December 2008, certain Directors and senior management of the Company were issued 2,659,363 warrants which were issued to investors participating in a placing of new Ordinary Shares by the Company (on the basis of one warrant for every two new Ordinary Shares subscribed for ("Warrants"). The Warrants carried an exercise price of 4p per Ordinary Share with an exercise period of two years from the date of issue of the Warrants. The 2,659,363 Warrants held by the Directors and senior management lapsed on 2 December 2010.
The Company announces that it has now issued 2,659,363 new warrants each to subscribe for one new Ordinary Share at a price of 4p per share to certain Directors and senior management ("New Warrants"). The exercise period for these New Warrants is one month from the date of issue. It is expected that the New Warrants will be exercised prior to completion of the acquisition of Hydrocarbon Exploration plc (as announced earlier today). The New Warrants issued to Directors have been issued as follows:
Director | New Warrants |
David Horgan | 625,000 |
James Finn | 625,000 |
John Teeling | 937,500 |
Dr. Manouchehr Takin | 150,000 |
Jack Teeling | 312,500 |
Enquiries:
Persian Gold plc John Teeling, Chairman James Finn, Finance Director
|
+353 (0) 1 833 2833 +353 (0) 1 833 2833
|
Nominated Adviser and Joint Broker Shore Capital Pascal Keane Toby Gibbs
| +44 (0)20 7408 4090 |
Joint Broker Optiva Securities Limited Jeremy King
| +44(0)20 3137 1904 |
College Hill Nick Elwes | +44 (0)20 7457 2020 |