Mineral & Financial Investments Regulatory News (MAFL)

ATHOL GOLD & VALUE LIMITED

("Athol" or the "Company")

ACQUISITION OF INVESTMENT PORTFOLIO

The Board of Athol is pleased to announce that, in line with its stated strategy of rationalising the large number of sub critical listed investment companies, it has agreed to acquire the entire share portfolio ("Portfolio") owned by Plus listed Ronaldsway Private Equity plc ("Ronaldsway") in exchange for new ordinary shares of 0.25p each in Athol ("Athol Shares") (the "Transaction"). 

The Transaction is subject to the approval of Ronaldsway shareholders at a general meeting ("General Meeting") and to contract. 

Under the terms of the Transaction, the Portfolio will be acquired for a total consideration of £288,168.79, which will be satisfied by the issue of 61,312,508 new Athol Shares ("Consideration Shares") at 0.47p per Athol Share, being the Net Asset Value per Athol Share as at 25 October 2011, the date on which the terms of the Transaction were agreed.

The Directors of Athol will provide an updated valuation of its own portfolio on completion of this transaction.

Should the Transaction be approved by Ronaldsway Shareholders at the General Meeting, Ronaldsway intends to de-list from PLUS (the "De-Listing") and distribute in specie the Consideration Shares, following payment of any expenses, to Ronaldsway shareholders pro rata to their existing holdings of ordinary shares in the company (the "Distribution"). As Ronaldsway would no longer have any assets following the De-Listing and Distribution, the company intends to be dissolved (the "Dissolution").

Jennifer Allsop, chairman of Athol, noted: "We have used our increasingly liquid paper to pick up another portfolio of largely AIM listed shares which have performed strongly in the past three months and thus this transaction will, in the view of Athol's directors, enhance our own NAV in a material way. Moreover it helps continue our drive towards achieving critical mass for Athol. We continue to consider a number of other paper funded portfolio acquisitions with a view to enhancing shareholder value and look forward to keeping shareholders abreast of developments in the coming weeks and months." 

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