Holding(s) in Company

21 Jul 2006 16:09

Shanta Gold Limited21 July 2006 SHANTA GOLD LIMITED (the "Company" or "Shanta") Shanta announces that on 20 July 2006 it received notice that on the same dateExport Holdings Limited ("Export") and Sable Gold (Mauritus) Limited ("Sable")transferred, in total, 15,000,000 warrants to subscribe for ordinary shares of0.01p each in the share capital of the Company ("Ordinary Shares") at a price of30p per Ordinary Share, exercisable at any time (the "Warrants"). The transferof Warrants was to a consortium of investors led by Coronation Capital Limited("Consortium"), at a price of 20p per Warrant pursuant to certain conditions(the "Transaction"). Under the terms of the Transaction, Export and Sable have agreed to exercise10,000,000 Warrants within 15 days of 21 July 2006; and the Consortium have alsoagreed, by way of undertaking, to exercise 10,000,000 Warrants within 15 days of21 July 2006. Export and Sable have granted the Consortium the right to acquire a further5,000,000 Warrants at a price of 30p per Warrant, with such right expiring on 30January 2007, and have given the Consortium undertakings that they will supportthe appointment of two directors nominated by the Consortium to the board ofShanta. Keten Patel (a director of Shanta) and Mahesh Patel (an alternate director ofShanta), hold 50% and 50% respectively of the issued share capital of Export. Walton Imrie, also a director of Shanta, holds 29.2% of the issued share capitalof Sable. As a result of the Transaction the interests (including beneficial interests) ofKetan Patel, Mahesh Patel and Walton Imrie in Shanta are as follows: Number of Ordinary Number of Warrants Shares Walton Imrie 6,073,088 3,884,587Ketan Patel 10,406,256 6,565, 250Mahesh Patel 10,406,256 6,565,250 For further information contact: David Youngman, W.H. Ireland Ltd. Tel: +44 (0) 161 832 6644 Walter Vorwerk, Shanta Gold Ltd Tel: +27 (0) 83 308 0080 Richard Shead, Shanta Gold Ltd Tel: +27 (0) 82 654 1821 This information is provided by RNS The company news service from the London Stock Exchange