Exercise of Warrants

8 Aug 2006 16:06

Shanta Gold Limited08 August 2006 For immediate release SHANTA GOLD LIMITED Shanta Gold Limited ("Shanta Gold" or the "Company") confirms that on 7 August2006 the directors of the Company approved an allotment of shares following theexercise of warrants over ordinary shares of 0.01p in the share capital of theCompany (the "Warrants") as set out below: Registered Holder Number of Subscription No. Of shares Exercise Price Warrants PriceExport Holdings Limited 5,000,000 30p 5,000,000 £1,500,000.00 Sable Gold (Mauritius) 5,000,000 30p 5,000,000 £1,500,000.00Limited Coronation Capital 5,000,000 30p 5,000,000 £1,500,000.00Limited Consortium Minco Investment Holdings 5,000,000 30p 5,000,000 £1,500,000.00Limited Application will be made for the ordinary shares created pursuant to theexercise of the Warrants (the "New Ordinary Shares") to be admitted to AIM anddealings in the New Ordinary Shares is expected to commence on 14 August 2006. The total number of issued ordinary shares in the Company, including the NewOrdinary Shares, is now 89,808,772 ordinary shares. Following the exercise of the warrants the following will be the holdings andsignificant interests of the parties: Shares Warrants Number % Number %Export Holdings Limited 25,812,500 28.74 8,312,500 23.97Sable Gold (Mauritius) Limited 25,812,500 28.74 8,312,500 23.97Coronation Capital Limited 5,000,000 5.57 2,500,000 7.21Minco Investment Holdings Limited 5,000,000 5.57 2,500,000 7.21 No other member of the consortium becomes a significant shareholder as aconsequence of the transaction Following this transaction the beneficial interests of directors through thepromoter shareholders' holdings will be as follows: Shares Warrants Number % Number %Walton Imrie 7,532,089 8.39 2,425,586 6.99Ketan Patel 12,906,250 14.37 4,156,250 11.98Mahesh Patel 12,906,250 14.37 4,156,250 11.98 The subscription monies of £6,000,000 (approximately US$11,450,000)have beenadded to net cash, which, as at 30 June 2006, stood at approximatelyUS$6,810,000. For further information contact: David Youngman, W.H. Ireland Ltd. Tel: +44 (0) 161 832 6644Walter Vorwerk, Shanta Gold Ltd Tel: +27 (0) 83 308 0080 This information is provided by RNS The company news service from the London Stock Exchange