CDG Conroy Diam&Gld

 
TIDMCDG 
 
The announcement that was released with reference number PRNUK-2710101836-5B55 
at 7.01am today contained an error, this announcement replaces it. 
 
28 October 2010 
 
                           Conroy Diamonds and Gold Plc 
 
                            ("CDG" or the "Company") 
 
    Placing and subscription to raise GBP1.8 million and debt capitalisation 
 
  * Placing of 25,833,333 new ordinary shares at 6 pence per share to raise GBP 
    1,550,000 before expenses 
 
  * Subscription for 4,166,667 new ordinary shares at 6 pence per share to 
    raise GBP250,000 before expenses 
 
  * Debt capitalisation of GBP600,000 at 6 pence per share 
 
  * Proceeds of the placing to be applied to accelerate ongoing programmes at 
    its Clontibret and Clay Lake gold targets 
 
Conroy (AIM: CDG), the gold exploration and development company focused on 
Ireland, announces that it has conditionally raised GBP1.8 million, prior to 
expenses, through a combination of a placing (the "Placing") of 25,833,333 
ordinary shares of EUR 0.03 in the capital of the Company (the "Placing 
Shares") at a price of 6 pence per Placing Share (the "Placing Price") and a 
subscription (the "Subscription") for 4,166,667 ordinary shares of EUR 0.03 in 
the capital of the Company (the "Subscription Shares") at a price of 6 pence 
per Subscription Share (the "Subscription Price"). In addition, Professor 
Richard Conroy, Chairman of the Company, has capitalised loans amounting to GBP 
600,000 by subscribing for 10,000,000 ordinary shares of EUR 0.03 in the 
capital of the Company at the Placing Price (together with the Placing Shares 
and Subscription Shares set out above ("New Shares")). 
 
Following the admission of the New Shares, Professor Richard Conroy will hold 
50,377,639 Ordinary Shares in the Company, representing approximately 21.9 per 
cent. of the Company's enlarged share capital and total voting rights. In 
addition, Mr Seamus Fitzpatrick, a Non-Executive Director of the Company, 
subscribed for 136,667 Ordinary Shares in the Placing. On admission, Mr 
Fitzpatrick will hold 315,667 ordinary shares in the Company, representing 0.14 
per cent. of the Company's enlarged share capital and total voting rights. 
 
The Placing Shares were placed with institutional and retail investors by XCAP 
Securities Plc ("XCAP"). The Placing and Subscription are conditional, inter 
alia, on admission of the Placing and Subscription Shares to trading on AIM and 
the Enterprise Securities Market operated by the Irish Stock Exchange Limited 
("ESM"). The New Shares will rank pari passu with the existing issued ordinary 
shares of EUR 0.03 in the capital of the Company ("Ordinary Shares"). 
 
The Company intends to use the net proceeds of the Placing and Subscription, 
amounting to approximately GBP1,675,000, primarily to fund the Company's ongoing 
programmes at its Clontibret and nearby Clay Lake gold targets and for working 
capital generally. 
 
The debt capitalisation by Professor Conroy is considered to be a Related Party 
Transaction under Rule 13 of the AIM Rules for Companies and under Rule 13 of 
the ESM Rules. With the exception of Professor Richard Conroy, the Company's 
directors consider, having consulted with the Company's nominated adviser and 
the Company's ESM adviser, that the terms of the debt capitalisation are fair 
and reasonable insofar as the Company's shareholders are concerned. 
 
Application has been made to AIM and ESM for the New Shares to be admitted to 
trading. Admission and trading in the New Shares are expected to commence on 5 
November 2010. 
 
On admission of the 40,000,000 New Shares, the Company will have 230,464,487 
Ordinary Shares in issue in total. 
 
Professor Richard Conroy, Chairman, commented: 
 
"These monies will allow us to accelerate the development of our gold projects 
in Ireland. At one of our targets, Clontibret, we already have, on 20 per cent 
of the target, a resource of 1M oz, and another target, Clay Lake, has, we 
believe, even larger potential. 
 
"Additional drilling will be carried out on both licence areas and we will 
continue with the scoping and environmental studies at Clontibret." 
 
Further Information: 
 
Conroy Diamonds and Gold Plc 
 
Professor Richard Conroy, Chairman                   Tel: +353-1-661-8958 
 
Merchant Securities Limited (Nomad) 
 
Simon Clements/Virginia Bull                                         Tel: 
                                                         +44-20-7628-2200 
 
IBI Corporate Finance Limited (ESM Adviser) 
 
John Tuite                                           Tel: +353-1-637-7800 
 
XCAP Securities Plc (Broker) 
 
John Grant/ Karen Kelly/ David Lawman                    Tel: +44-20-7101 
                                                                     7070 
 
Lothbury Financial Services 
 
Michael Padley/Michael Spriggs                                       Tel: 
                                                         +44-20-7868-2567 
 
Hall Communications 
 
Don Hall                                             Tel: +353-1-660-9377 
 
 
 
END 
 

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