Goldstone Resources Regulatory News (GRL)

RNS Number : 9303H

Goldstone Resources Ltd

02 March 2010

 

 

GOLDSTONE RESOURCES LIMITED

("GoldStone" or the "Company")

 

HOLDINGS IN COMPANY

 

 

Further to the announcement on 22 February 2010, GoldStone announces that GeoQuest Holdings Limited ("GeoQuest") has notified the Company that on 26 February 2010 it sold 40,000,000 ordinary shares in GoldStone. Following the sale, GeoQuest no longer holds any shares in the Company. As a consequence of the sale by GeoQuest, GoldStone is now able to acquire interests in assets in the Southern African Development Community in accordance with South African Reserve Bank requirements.

 

Nico van der Hoven, Non-Executive Chairman of GoldStone, is the registered holder of 0.3 per cent. of the issued share capital of GeoQuest and is, potentially, beneficially interested in 18.0 per cent. of the issued share capital of GeoQuest under the terms of discretionary trusts. Jurie Wessels, Chief Executive of GoldStone, is potentially beneficially interested in 7.1 per cent. of the issued share capital of GeoQuest under the terms of a discretionary trust. Mr. van der Hoven and Mr. Wessels were respectively therefore potentially interested in 7,320,000 and 2,840,000 of the 40,000,000 ordinary shares held by GeoQuest.

 

Loxbeare Ltd, a company owned by a discretionary trust of which Mr. van der Hoven is a potential beneficiary, has purchased 7,300,000 ordinary shares in the Company at a price of 1.1p per share through the disposal by GeoQuest. Whether or not Mr. van der Hoven will, in fact, benefit from the shares held by this trust, which represents his only interest in the issued share capital of GoldStone, is at the discretion of the trustees.

 

In addition, the Company was notified today that Russell Brookes Ltd, a company owned by a discretionary trust of which Mr. Wessels is a potential beneficiary, has today purchased 2,100,000 ordinary shares in the Company at a price of 1.1p per share. GoldStone was also notified today that Marais Services Ltd, a company owned by a discretionary trust of which Dr. Hendrik Schloemann, Exploration Director at GoldStone, is a potential beneficiary, has today purchased 1,000,000 ordinary shares in the Company at a price of 1.1p per share.

 

Whether or not Mr. Wessels or Dr. Schloemann will, in fact, benefit from the shares held by these two discretionary trusts, which represent their only interests in the issued share capital of GoldStone, is at the discretion of the respective trustees.

 

 

Enquiries

 

GoldStone Resources Limited	+27 21 794 4004
Nico van der Hoven (Non-Executive Chairman)
Westhouse Securities Limited	+44 113 246 2610
Tim Feather / Matthew Johnson

 

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