TIDMCNR
RNS Number : 6743I
Condor Gold PLC
23 March 2018
Condor Gold plc
7th Floor
39 St. James's Street
London
SW1A 1JD
Telephone: +44 020 74932784
Fax: +44 020 74938633
23(rd) March 2018
Condor Gold plc
("Condor", "Condor Gold" or the "Company")
DIRECTOR SUBSCRIPTION, DIRECTOR DEALING AND TOTAL VOTING
RIGHTS
Condor Gold (AIM: CNR; OTCQX: CNFGF; TSX: COG) wishes to
announce that, further to the announcement made earlier today
relating to the placing to raise GBP2.5 million (the "Placing"),
that the two directors, Jim Mellon and Andrew Cheatle have
subscribed for a total of 616,279 Units on the same terms (the
"Director's Shares") for a sum of GBP265,000 following the
announcement of the Placing. Mark Child, a director of the Company
has notified the Company that he has purchased 697,674 warrants at
GBP0.01 per warrant for a consideration of GBP6,976.74 from a
subscriber to the Placing.
Application has been made for the 5,197,674 new ordinary shares
of 20 pence each issued under the Placing, together with the
616,279 Director's Shares, to be admitted to trading on AIM
("Admission"), such Admission is expected to occur on or around
4(th) April 2018. On Admission, the Placing Shares and Director's
Shares will rank pari passu in all respects with the existing
ordinary shares of the Company, including the right to receive all
dividends and other distributions declared after the date of their
issue. The Company has received conditional approval from the
Toronto Stock Exchange for the Placing.
Total Voting Rights
Following Admission of the Placing Shares and Director's Shares,
the Company will then have 67,179,335 ordinary shares of 20p each
in issue with voting rights and admitted to trading on AIM. This
figure may then be used by shareholders in the Company as the
denominator for the calculation by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the share capital of the Company under the Financial
Conduct Authority's Disclosure and Transparency Rules.
The notification below, made in accordance with the requirements
of the EU Market Abuse Regulation, provides further detail in
respect of the Directors' subscribing for Ordinary Shares and
Purchasing Warrant Shares as described above.
Jim Mellon
1 Details of the person discharging managerial
responsibilities / person closely associated
--- --------------------------------------------------------
a) Name Jim Mellon
--- ------------------------ ------------------------------
2 Reason for notification
--- --------------------------------------------------------
a) Position / status Director
--- ------------------------ ------------------------------
b) Initial notification Initial
/Amendment
--- ------------------------ ------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- --------------------------------------------------------
a) Name Condor Gold plc
--- ------------------------ ------------------------------
b) LEI 213800PFKETQA86RHL82
--- ------------------------ ------------------------------
4 Details of the transaction(s): section
to be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- --------------------------------------------------------
a) Description of 581,395 Ordinary shares of
the financial 20 pence each in Condor Gold
instrument, type plc
of instrument
Identification ISIN GB00B8225591
code
--- ------------------------ ------------------------------
Nature of the Purchase of new ordinary
transaction shares as described above
--- ------------------------ ------------------------------
c) Price(s) and Price(s) Volumes(s)
volumes(s) ---------- -----------
43 pence 581,395
---------- -----------
--- ------------------------ ------------------------------
d) Aggregated information n/a
--- ------------------------ ------------------------------
e) Date of the transaction 23(rd) March 2018
--- ------------------------ ------------------------------
f) Place of the London Stock Exchange, AIM
transaction (XLON)
--- ------------------------ ------------------------------
Andrew Cheatle
1 Details of the person discharging managerial
responsibilities / person closely associated
--- --------------------------------------------------------
a) Name Andrew Cheatle
--- ------------------------ ------------------------------
2 Reason for notification
--- --------------------------------------------------------
a) Position / status Director
--- ------------------------ ------------------------------
b) Initial notification Initial
/Amendment
--- ------------------------ ------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- --------------------------------------------------------
a) Name Condor Gold plc
--- ------------------------ ------------------------------
b) LEI 213800PFKETQA86RHL82
--- ------------------------ ------------------------------
4 Details of the transaction(s): section
to be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- --------------------------------------------------------
a) Description of 34,884 Ordinary shares of
the financial 20 pence each in Condor Gold
instrument, type plc
of instrument
Identification ISIN GB00B8225591
code
--- ------------------------ ------------------------------
Nature of the Purchase of new ordinary
transaction shares as described above
--- ------------------------ ------------------------------
c) Price(s) and Price(s) Volumes(s)
volumes(s) ---------- -----------
43 pence 34,884
---------- -----------
--- ------------------------ ------------------------------
d) Aggregated information n/a
--- ------------------------ ------------------------------
e) Date of the transaction 23(rd) March 2018
--- ------------------------ ------------------------------
f) Place of the London Stock Exchange, AIM
transaction (XLON)
--- ------------------------ ------------------------------
Mark Child
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ------------------------------------------------------------
a) Name Mark Child
--- ------------------------ ----------------------------------
2 Reason for notification
--- ------------------------------------------------------------
a) Position / status Executive Chairman
--- ------------------------ ----------------------------------
b) Initial notification Initial
/Amendment
--- ------------------------ ----------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ------------------------------------------------------------
a) Name Condor Gold plc
--- ------------------------ ----------------------------------
b) LEI 213800PFKETQA86RHL82
--- ------------------------ ----------------------------------
4 Details of the transaction(s): section
to be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- ------------------------------------------------------------
a) Description of Warrants to subscribe for
the financial Ordinary shares of 20 pence
instrument, type each in Condor Gold plc
of instrument
Identification ISIN GB00B8225591
code
--- ------------------------ ----------------------------------
Nature of the Purchase of warrants to subscribe
transaction for 697,674 new ordinary
shares as described above
--- ------------------------ ----------------------------------
c) Price(s) and Price(s) Volumes(s)
volumes(s) ---------- -----------
1 pence 697,674
---------- -----------
--- ------------------------ ----------------------------------
d) Aggregated information n/a
--- ------------------------ ----------------------------------
e) Date of the transaction 23(rd) March 2018
--- ------------------------ ----------------------------------
f) Place of the London Stock Exchange, AIM
transaction (XLON)
--- ------------------------ ----------------------------------
Special note concerning the Market Abuse Regulation
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) No 596/2014
("MAR"). Market soundings, as defined in MAR, were taken in respect
of the Placing, with the result that certain persons became aware
of inside information, as permitted by MAR. That inside information
is set out in this announcement. Therefore, those persons that
received inside information in a market sounding are no longer in
possession of inside information relating to the Company and its
securities.
A further announcement will be made shortly.
- Ends -
For further information please visit www.condorgold.com or
contact:
Condor Gold plc Mark Child, Chairman and CEO
+44 (0) 20 7493 2784
Beaumont Cornish Roland Cornish and James Biddle
Limited +44 (0) 20 7628 3396
Numis Securities John Prior and James Black
Limited +44 (0) 20 7260 1000
Blytheweigh Tim Blythe, Camilla Horsfall
and Megan Ray
+44 (0) 20 7138 3204
About Condor Gold plc:
Condor Gold plc was admitted to AIM on 31 May 2006. The Company
is a gold exploration and development company with a focus on
Central America.
Condor published a Pre-Feasibility Study ("PFS") on its wholly
owned La India Project in Nicaragua in December 2014, as summarized
in the Technical Report (as defined below). The PFS details an open
pit gold mineral reserve in the Probable category of 6.9 Mt at 3.0
g/t gold for 675,000 oz gold, producing 80,000 oz gold per annum
for seven years. La India Project contains a mineral resource in
the Indicated category of 9.6 Mt at 3.5 g/t for 1.08 million oz
gold and a total mineral resource in the Inferred category of 8.5
Mt at 4.5 g/t for 1.23 million oz gold. The Indicated mineral
resource is inclusive of the mineral reserve.
Disclaimer
Neither the contents of the Company's website nor the contents
of any website accessible from hyperlinks on the Company's website
(or any other website) is incorporated into, or forms part of, this
announcement.
Technical Information
Certain disclosure contained in this news release of a
scientific or technical nature has been summarized or extracted
from the technical report entitled "Technical Report on the La
India Gold Project, Nicaragua, December 2014", dated November 13,
2017 with an effective date of December 21, 2014 (the "Technical
Report"), prepared in accordance with National Instrument 43-101 -
Standards of Mineral Disclosure ("NI 43-101"). The Technical Report
was prepared by or under the supervision of Tim Lucks, Principal
Consultant (Geology & Project Management), Gabor Bacsfalusi,
Principal Consultant (Mining), Benjamin Parsons, Principal
Consultant (Resource Geology), each of SRK Consulting (UK) Limited,
and Neil Lincoln of Lycopodium Minerals Canada Ltd., each of whom
is an independent Qualified Person as such term is defined in NI
43-101.
Forward Looking Statements
All statements in this press release, other than statements of
historical fact, are "forward-looking information" with respect to
the Company within the meaning of applicable securities laws,
including statements with respect to: the date of Admission and
estimates of mineral resources and mineral reserves.
Forward-looking information is often, but not always, identified by
the use of words such as "seek", "anticipate", "plan", "continue",
"strategies", "estimate", "expect", "project", "predict",
"potential", "targeting", "intends", "believe", "potential",
"could", "might", "will" and similar expressions. Forward-looking
information is not a guarantee of future performance and is based
upon a number of estimates and assumptions of management at the
date the statements are made including, among others, assumptions
regarding: future commodity prices and royalty regimes;
availability of skilled labour; timing and amount of capital
expenditures; future currency exchange and interest rates; the
impact of increasing competition; general conditions in economic
and financial markets; availability of drilling and related
equipment; effects of regulation by governmental agencies; the
receipt of required permits; royalty rates; future tax rates;
future operating costs; availability of future sources of funding;
ability to obtain financing and assumptions underlying estimates
related to adjusted funds from operations. Many assumptions are
based on factors and events that are not within the control of the
Company and there is no assurance they will prove to be
correct.
Such forward-looking information involves known and unknown
risks, which may cause the actual results to be materially
different from any future results expressed or implied by such
forward-looking information, including, risks related to: mineral
exploration, development and operating risks; estimation of
mineralisation, resources and reserves; environmental, health and
safety regulations of the resource industry; competitive
conditions; operational risks; liquidity and financing risks;
funding risk; exploration costs; uninsurable risks; conflicts of
interest; risks of operating in Nicaragua; government policy
changes; ownership risks; permitting and licencing risks; artisanal
miners and community relations; difficulty in enforcement of
judgments; market conditions; stress in the global economy; current
global financial condition; exchange rate and currency risks;
commodity prices; reliance on key personnel; dilution risk; payment
of dividends; as well as those factors discussed under the heading
"Risk Factors" in the Company's long-form prospectus dated December
21, 2017, available under the Company's SEDAR profile at
www.sedar.com.
Although the Company has attempted to identify important factors
that could cause actual actions, events or results to differ
materially from those described in forward-looking information,
there may be other factors that cause actions, events or results
not to be as anticipated, estimated or intended. There can be no
assurance that such information will prove to be accurate as actual
results and future events could differ materially from those
anticipated in such statements. The Company disclaims any intention
or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise
unless required by law.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLLFIDVVIFFIT
(END) Dow Jones Newswires
March 23, 2018 05:30 ET (09:30 GMT)
Condor Gold (LSE:CNR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Condor Gold (LSE:CNR)
Historical Stock Chart
From Apr 2023 to Apr 2024
