Issue of Equity
April 22 2010 - 2:00AM
UK Regulatory
TIDMCDG
22 April 2010
Conroy Diamonds and Gold P.l.c.
("Conroy" or "the Company")
Subscription to raise EUR2,172,276
* Subscription of 47,600,000 new ordinary shares at 4 pence per share to
raise EUR2,172,276 before expenses
* Proceeds of the subscription to be applied to accelerate technical studies
at Clontibret and the work programmes of the Company's other gold
discoveries
Conroy Diamonds and Gold Plc (AIM:CDG; IEX:CDG.I) is pleased to announce that
it has raised EUR2,172,276 (approximately GBP1,900,000) through a subscription
("the Subscription") of 47,600,000 new ordinary shares at 4 pence per share
("the Subscription Shares").
The subscriber is Kenglo One Limited, a privately owned company which has
extensive interests and expertise in the global mining industry. Kenglo One
Limited is wholly owned by Baccata Trustees Limited.
Following the Subscription, the Company will have 190,464,487 ordinary shares
in issue and Kenglo One Limited will hold 47,600,000 ordinary shares
representing 24.99 per cent. of the enlarged issued share capital of the
Company.
The proceeds of the Subscription, amounting to approximately GBP1,900,000, will
be applied primarily to fund its ongoing programmes at Clontibret (where it has
previously delineated a 1 million ounce JORC compliant gold resource), the
recently discovered large gold anomaly at the Clay Lake prospect (where Conroy
has reported a 63 metre intersection of 0.62 g/t gold and 1 g/t silver) and for
working capital generally.
Application has been made to the London Stock Exchange and the Irish Stock
Exchange for the Subscription Shares to be admitted to trading on AIM and IEX,
respectively. Trading in the Subscription Shares is expected to commence on AIM
and IEX on 27 April 2010.
Commenting today, Chairman, Professor Richard Conroy said:
"I am delighted to announce the Subscription which will enable the Company to
accelerate the pace of work at Clontibret and at our other gold discoveries."
Enquiries:
Conroy Diamonds and Gold Plc
Professor Richard Conroy, Chairman +353 1 661 8958
Merchant John East Securities Limited (Nomad)
Simon Clements/Virginia Bull +44 20 7628 2200
IBI Corporate Finance Limited (IEX
Adviser)
John Tuite +353 1 637 7800
City Capital Corporation Limited
(Broker)
Charles Dampney +44 20 3178 3399
Lothbury Financial Services Limited
Michael Padley/Michael Spriggs +44 20 7868 2567
Hall Communications
Don Hall +353 1 660 9377
Further details on Conroy Diamonds and Gold can be found on its website at:
www.conroydiamondsandgold.com
Conroy Share Price
END
Conroy Diamonds & Gold (LSE:CDG)
Historical Stock Chart
From Apr 2024 to May 2024
Conroy Diamonds & Gold (LSE:CDG)
Historical Stock Chart
From May 2023 to May 2024