11 Jul 2016 14:58
11 July 2016
Golden Saint Resources Ltd
("GSR" or the "Company")
Holdings in Company and termination of consultancy agreement with Cyril D'Silva
Holdings in Company
GSR announces that on 8 July 2106 it was informed that Cyril D'Silva had made the following disposals of Ordinary Shares of no par value in the capital of the Company ("Ordinary Shares") ("Disposals").
Date of Disposal
| Number of Ordinary Shares sold | Price per Ordinary Share sold (£) |
28 June 2016 | 20,000,000 | 0.0008 |
28 June 2016 | 10,000,000 | 0.00078 |
1 July 2016 | 12,500,000 | 0.00075 |
4 July 2016 | 5,000,000 | 0.00075 |
In addition, on 8 July 2016, the Company was informed that on 17 May 2016 Aital System(s) Pte Ltd (a company wholly owned by Cyril D'Silva) transferred its entire holding of 45,497,954 Ordinary Shares to D'Silva Investments (WA) Pty Ltd (Cyril D'Silva's family trust) for no value ("Transfer").
Prior to the above Disposals and Transfer Cyril was beneficially interested in a total of 439,260,179 Ordinary Shares (representing approximately 9.76 per cent. of the issued share capital of the Company), held as to 307,762,224 Ordinary Shares by D'Silva Investments (WA) Pty Ltd, 45,497,954 Ordinary Shares by Aital System(s) Pte Ltd and 86,000,001 Ordinary Shares in his own name. Following the Disposals and the Transfer Cyril D'Silva is beneficially interested in a total of 391,760,179 Ordinary Shares (representing approximately 8.70 per cent. of the issued share capital of the Company), held as to 353,260,178 Ordinary Shares by D'Silva Investments (WA) Pty Ltd and 38,500,001 Ordinary Shares in his own name.
Termination of consultancy agreement
The Company announces that on 11 July 2016, and following the appointment of SVS Securites as broker to the Company, Cyril D'Silva gave notice of termination of his consultancy agreement, details of which were announced to the market on 10 February 2016. Under the terms of the consultancy agreement (which was entered into between the Company and Cyril D'Silva (through Cyril D'Silva's wholly owned consultancy company, Clayhill Capital Consultants Pty Ltd) the contract will terminate on 11 August 2016.
For further information please contact:
Golden Saint Resources Ltd
| Keng Hock Seah | +618 6145 4400 |
Beaumont Cornish Limited
| Roland Cornish / Emily Staples | +44 (0) 20 7628 3396 |
SVS Securities Plc
| Tom Curran / Ben Tadd | +44 (0)203 700 0093 |
Cassiopeia Services LTD
| Stefania Barbaglio | +44 (0)7949690338 |