Norseman Gold Regulatory News (NGL)

12 Sep 2007 11:34

Norseman Gold PLC12 September 2007 Norseman Gold Plc Issue of equity Norseman Gold Plc (the "Company") announces that, following the termination of aconsultancy agreement with one of its consultants (the "Consultant") providedthrough Infinity Resources Pty Ltd ("Infinity"): (a) the Consultant has been issued with 1,150,000 ordinary shares in the Company (the "Shares"); and (b) the Consultant's 3,000,000 options to subscribe for Shares and the Consultant's right to be issued with 1,850,000 Shares have been assigned for no consideration to Infinity (the "Assignments") and reconfirmed by the Company. Infinity is a company associated with Barry Cahill, the CEO of the Company. TheAssignments took place on 12 September 2007. Following the Assignments, assuming all of the Management Shares (as defined inthe Company's admission document dated 29 March 2007) are issued in accordancewith their terms, Barry Cahill, through his association with Infinity, will beinterested in: (a) 9,850,000 Shares, representing approximately 2.5% of the issued share capital of the Company; and (b) 10,500,000 options to subscribe for Ordinary Shares in the Company. Application will be made for the 1,150,000 Ordinary Shares to be admitted totrading on AIM. Following admission of these Ordinary Shares, there will be398,950,000 Ordinary Shares in issue. The lock-in and orderly market agreement entered into on admission of theCompany to trading on AIM (which is summarised in the Company's admissiondocument dated 29 March 2007) (the "Admission Lock-in Deed") will apply toInfinity's right to be issued with a further 1,850,000 Shares. Infinity hasentered into a new lock-in and orderly market agreement (on substantially thesame terms as the Admission Lock-in Deed) in respect of the options assigned toit. For further information visit www.norsemangoldplc.com or contact: David Steinepreis Norseman Gold Plc Tel: +61 (0) 89 420 9300 Romil Patel Blue Oar Securities Plc Tel: 020 7448 4400 This information is provided by RNS The company news service from the London Stock Exchange