1 Sep 2011 13:52
SCOTGOLD RESOURCES LIMITED ("SCOTGOLD" OR THE "COMPANY")
Issue of shares and changes in directors' holdings
Scotgold (ASX:SGZ, AIM: SGZ) announces that following the completion of the Company's rights issue it has now issued and allotted 28,181,626 new shares, which were issued pursuant to the terms of the rights issue for a cash consideration of 5 Australian dollar cents per share (AUS$0.05 per share) (the "New Shares").
Application has been made for the New Shares to be admitted to the ASX and AIM markets and it is anticipated that admission to AIM will occur on Wednesday, 7 September 2011.
Following their participation in the rights issue the following changes have occurred to Mr John Bentley, the Company's Chairman, and Mr Christopher Sangster, the Company's CEO's, holdings in the ordinary shares of the Company.
Name | Holding prior to participation in rights issue | Number of New Shares purchased | Holding following participation in rights issue | Holding as a percentage of total issued share |
John Bentley1 | 1,125,000 | 225,000 | 1,350,000 | 0.7 |
Christopher Sangster2 | 5,625,000 | 532,000 | 6,157,000 | 3.25 |
1Held directly and through Smith & Williamson Nominees Limited
2Held directly and through Giltspur Nominees Limited
Filings of the above changes to directors' holdings have today been made to the Australian Stock Exchange using ASX form, Appendix 3Y.
Scotgold is also aware that Kenglo One Limited, a Significant Shareholder as defined under the AIM Rules, participated in the rights issue. The Company understands that following the rights issue, Kenglo One Limited's revised aggregate interest in the Company's issued share capital is 17,400,000 ordinary shares representing 9.2% of the issued share capital.
A revised schedule detailing the holdings of the Company's largest twenty shareholders is available on Scotgold's website.
The total number of shares in issue following the Rights Issue is 189,510,656.
For further information please contact:
United Kingdom:
Scotgold Resources Limited | Westhouse Securities Limited | Bankside Consultants |
John Bentley (Chairman) Chris Sangster (CEO) | Richard Baty / Petre Norton | Simon Rothschild /Elena Kuza |
Tel: +44 (0)7785921505 | Tel: +44 (0)20 7601 6100 | Tel +44 (0)20 7367 8888 |
Australia:
Scotgold Resources Limited | Professional Public Relations |
Shane Sadleir (Non-Executive Director) | Karen Oswald |
Tel: +61 (8) 9428 2950 Mobile: +61 (0) 411 704 498 | Tel: +61 (8) 9388 0944 Mobile: +61 (0) 423 602 353 |