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ESM - Schedule One

6 Oct 2011 17:19

RNS Number : 7388P
Great Western Mining Corp. plc
06 October 2011
 



Pre-Admission AnnouncementESM Schedule 1

Announcement to be made by the ESM Applicant prior to admission in accordance withrule 2 of the ESM Rules for Companies

All Applicants must complete the following

Company name

Great Western Mining Corporation plc

Company registered address and if different, company trading address (including postcodes)

6 Northbrook Road,

Dublin 6,

Ireland

Country of incorporation

IRELAND

Company website address containing all information required by rule 26 in the ESM Rulesfor Companies

www.greatwesternmining.com

Company business (including main country of operation) or, in the case of an investing company, details of its investing strategy. If the admission is sought as a result of a reverse takeover under rule 14 of the ESM Rules for Companies, this should be stated

The Company is involved in the exploration for Copper, Gold, Silver and other precious metals in Nevada. The Company has 896 license claims in six separate locations located near Marietta in Mineral County, Nevada covering 7,305 hectares in total.

 

Following the acquisition of data and preliminary survey work including aeromagnetic and ASTER image studies, preliminary sampling and metallurgical testing in these locations, the Company has identified eight targets for further investigation.

 

The Company intends to progress with a first phase of exploration on the eight targets, the purpose of which will be to evaluate and rank the eight targets and advance one or more of them to the drilling stage subject to results. The second phase, which would require further fundraising, should enable the Company to establish a resource estimate and prepare a preliminary feasibility study for the development of a mine.

Details of securities to be admitted including any restrictions as to transfer of securities (i.e. where known, number of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares)

46,490,475 ordinary shares of €0.01 each

 

 

Capital to be raised on admission (if applicable) and anticipated market capitalisation on admission

 

 

None

 

Anticipated market capitalisation on admission: €5.5m

 

 

Percentage of ESM securities not in public hands on admission

 

 

35.5%

 

 

Details of any other exchange or trading platform to which the ex securities (or other securities of the company) are or will be admitted or traded

 

 

AIM market of London Stock Exchange

 

 

Full names and functions of directors and proposed directors (underlining the first name by which each is known or including any other name by which each is known)

 

Emmett O'Connell, Executive Chairman

 

Melvyn Fredrick Quiller, Chief Executive Officer

 

Robert O'Connell, Operations Director

 

Christopher Hall, Non Executive Director

 

Nial Philip Ring, Non Executive Director

 

 

 

 

Full names and holdings of significant shareholders, expressed as a percentage of the issued share capital, before or after admission (underlining the first name by which each is known or including any other name by which each is known)

 

No of

Shares

%

Emmett O'Connell

7,452,818

16.07

Robert O'Connell

5,451,365

11.75

Pershing International Nominees

4,064,045

8.76

GWMO LONP

2,272,727

4.9

Melvyn Quiller

1,847,813

3.98

FITEL Nominees

1,834,091

3.95

 

Names of all persons to be disclosed in accordance with schedule two, paragraph (h) of the ESM Rules for Companies

 

None

 

i anticipated accounting reference date

31 December

 

ii date to which the main financial information in the admission document has been prepared

n/a

 

iii dates by which it must publish its first three reports pursuant to Rules 18 and 19 in the ESM Rules for Companies

2011 Annual Report to be published by 30 June 2012

2012 Half yearly Report to be published by 30 Sept. 2012

2012 Annual Report to be published by 30 June 2013

 

Expected admission date

3 November 2011

 

Name and address of ESM Adviser

Bloxham Stockbrokers

2/3 Exchange Place,

IFSC,

Dublin 1

 

 

Name and address of broker

Bloxham Stockbrokers

2/3 Exchange Place,

IFSC,

Dublin 1

 

 

Other than in the case of a quoted Applicant, details of where (postal or internet address) the admission document will be available from, with a statement that this will contain full details about the Applicant and the admission of its securities

 

n/a

 

Date of notification

6 October 2011

 

New/update (see note):

New

 

Quoted Applicants must also complete the following

 

The name of the ESM designated market upon which the Applicant's securities have been traded

 

AIM market of London Stock Exchange.

 

The date from which the Applicant's securities have been so traded

 

18 August 2011

 

Confirmation that, following due and careful enquiry, the Applicant has adhered to any legal and regulatory requirements involved in having its securities traded upon such a market or details of where there has been any breach

The Director confirm that, after due and careful enquiry, the Applicant has adhered to al legal and regulatory requirements involved in having its securities traded upon the Aim market of London Stock Exchange.

An address or web-site address where any documents or announcements which the Applicant has made public over the last two years (in consequence of having its securities so traded) are available

www.greatwesternmining.com/press-releases.html

 

Details of the Applicant's strategy following admission including, in the case of an investing company, details of its investment strategy

Following admission the Company's intends to progress with the first phase exploration of the key targets within its license claims area to evaluate them and commence drilling on a number of preferred target locations. After completion of this phase, and subject to results from this phase, it intends to advance to the second stage of establishing a mineral resource estimate and prepare a feasibility study for the development of a mine.

A description of any significant change in financial or trading position of the Applicant, which has occurred since the end of the last financial period for which audited statements have been published

Since the 31 March 2011 the Company has raised Stg£0.98m and its shares have been admitted to the AIM Market of London Stock Exchange.

A statement that the directors of the Applicant have no reason to believe that the working capital available to it or its group will be insufficient for at least twelve months from the date of its admission

The Directors have no reason to believe that the working capital available to the Company is insufficient for its present requirements, that is for at least the next 12 months from its admission to ESM.

Details of any lock-in arrangements pursuant to rule 7 of the ESM Rules for Companies

 

The Directors have each undertaken that, except in certain limited circumstances, they will not dispose of any interest in the Ordinary Shares (including options) held by them for a period of 12 months from the date of admission and, for the following 12 months, that they will only dispose of their holdings, subject to a number conditions including the prior written consent of the Company's advisers and broker.

A brief description of the arrangements for settling the Applicant's securities

Settlement of the Company's Ordinary Shares traded in both uncertificated and certificated forms will continue to place in the CREST system.

A website address detailing the rights attaching to the Applicant's securities

www.greatwesternmining.com/investor-relations.html

Information equivalent to that required for an admission document which is not currently public

There is no information equivalent to the required for an admission document which is not in the public domain since the Company published an admission document on 18 August 2011 copies of which are available at :-www.greatwestern.us/images/stories/GWM%20Admission%20Document%20FINAL.pdf

A website address of a page containing the Applicant's latest annual report and accounts which must have a financial year end not more then nine months prior to admission and fully audited interim results where applicable. The accounts must be prepared according to Irish, UK or USGAAP or international accounting standards.

Copies of the Company's Annual report for the year ended 31 December 2010 are available at:- www.greatwestern.us/images/stories/2011%20report%20%20accounts1.pdf

The number of each class of securities held in treasury

There are no securities held in treasury.

Note: this field should indicate that the announcement is 'new' and all relevant fields should be completed. Otherwise where the form is required to be completed in respect of an 'update' announcement, this should be indicated. In such cases, all the original information should be included with any amended fields emboldened.

Submit completed form for market dissemination to announcements@ise.ie

 

This announcement has been issued through the Companies Announcement Service of
the Irish Stock Exchange.
This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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