4 Jan 2013 10:10
4 January 2013
Kolar Gold Ltd
Admission of Ordinary Shares
Following the announcement on 31 December 2012, Kolar Gold Limited ("Kolar Gold" or the "Company"), the Indian focused gold exploration and mine development company, announces that it has applied for 3,225,182 ordinary shares of 7p each ("Ordinary Shares") to be admitted to trading on AIM. Admission of the shares is expected to take place on Wednesday 9 January 2013.
Following the admission of the 3,225,182 Ordinary Shares, the Company's enlarged issued share capital will comprise 103,376,978 Ordinary Shares with one voting right per share. There are no shares held in treasury. The total number of voting rights in the Company is therefore 103,376,978.
This figure of 103,376,978 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.
For further information please contact:
Kolar Gold Limited | |
Nick Spencer / Chris Clowes | +617 3846 0211 |
N+1 Singer (Nomad and Joint Broker) | |
James Maxwell / Jenny Wyllie | +44 20 7496 3000 |
About Kolar Gold Limited:
Kolar Gold is an Indian gold exploration and development company, traded on the AIM market (Ticker: KGLD) that has an experienced international board and strong local partners.
Kolar Gold has rights to explore and develop one prospecting licence and 13 further licence applications in the Kolar Gold Belt, an 80 kilometre long Archaean Greenstone Belt, in Southern India. The Kolar Gold Belt is one of the most prospective underdeveloped Archaean Greenstone Belts in the world and is regarded by Mr Andrew J Vigar of Mining Associates Limited, the Competent Person, as comparable to the Archaean Greenstone Belts of South Africa, Canada and Western Australia which have similar geology, structure and style of mineralisation. This project area includes 32 known mineralised prospects and covers 568 square kilometres in the southern states of Andhra Pradesh, Karnataka and Tamil Nadu. KGL commenced exploration on the first Prospecting Licence in South Kolar in February 2011.
Kolar Gold is also jointly pursuing, with the mine employee unions, the acquisition and revival of the neighbouring historic Kolar Gold Fields which has produced 25 million ounces of gold at 15.9 grams per tonne over 120 years until closure in 2001.