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13 Apr 2017 07:00
13 April 2017
Sula Iron & Gold plc
("Sula" or the "Company")
Director's Dealing and Notifiable Interests
Sula (AIM: SULA), the gold exploration company focused on Sierra Leone, was yesterday notified by Madini Occidental Limited ("Occidental") that on 12 April 2017, Occidental transferred its entire holding of 304,642,410 ordinary shares of 0.1p each in the Company ("Ordinary Shares") to Galactic Tide Ltd ("Galactic"), together with the 304,642,410 warrants, which were originally issued to Occidental in November 2016 (the "Transfer"). Accordingly, Occidental and its 75% shareholder, Madini Minerals, no longer have notifiable interests in the Company's issued share capital. Ongeza Mining, a subsidiary of Madini Minerals, retains its holding of 38,168,052 Ordinary Shares and continues to provide financial and technical advice to Sula.
Following the Transfer, Galactic is interested in 304,642,410 Ordinary Shares, representing approximately 13.76% of Sula's share capital. Galactic is a privately-owned investment company incorporated in the Seychelles. Mr Mike Warren, an experienced mining professional, who is the 100% owner of Equity Drilling Limited, the Company's current drill contractor carrying out the current drill programme on the Company's Ferensola Project, has a non-controlling shareholding in Galactic. Accordingly, Mr Warren's indirect interest in Sula, through Galactic, is 152,321,205 Ordinary Shares, representing approximately 6.9% of the Company's issued share capital.
The Company has also been notified by Mr Iain Macpherson, a director of the Company, that Mr Macpherson has an indirect non-controlling shareholding in Galactic. As a result of the abovementioned Transfer, Mr Macpherson's direct and indirect shareholding in Sula is now, in aggregate, 128,743,370 Ordinary Shares, representing approximately 5.8% of the Company's issued share capital.
For further information, please visit www.sulaironandgold.com or contact:
Sula Iron & Gold plc Roger Murphy, CEO | +44 (0) 20 7583 8304 |
Strand Hanson Limited (Financial and Nominated Adviser) James Harris Matthew Chandler James Dance | +44 (0) 20 7409 3494 |
VSA Capital Limited (Financial Adviser and Corporate Broker) Andrew Monk Andrew Raca Justin McKeegan | +44 (0) 20 3005 5000 |
Ongeza Mining (Financial and Technical Adviser) Iain Macpherson Ilja Graulich
| +27 (0) 11 469 0629 |
The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014 ("MAR").
The notifications set out below are provided in accordance with the requirements of MAR.
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 | ||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a. | Name | Mr Iain Macpherson | ||||||
2 | Reason for notification | |||||||
a. | Position/Status | Non-executive Director of Sula Iron & Gold plc | ||||||
b. | Initial notification/ Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a. | Name | Sula Iron & Gold plc | ||||||
b. | LEI | 213800VNXOUPHTX53686 | ||||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; and (iii) each date transactions have been conducted | |||||||
a. | Description of the financial instrument, type of instrumentIdentification Code | Ordinary Shares of 0.1p each ISIN: GB00B6Y3CV16 | ||||||
b. | Nature of the transaction | Transfer of shares to a company of which the PDMR is an indirect shareholder | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) | Volume(s) | |||||||
£0.0040 | 90,473,622 | |||||||
d. | Date of the transaction
| 2017-04-12
| ||||||
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