Golden Saint Resources Ltd Placing and issue of shares (3033K)
April 09 2018 - 9:35AM
UK Regulatory
TIDMGSR
RNS Number : 3033K
Golden Saint Resources Ltd
09 April 2018
9 April 2018
Golden Saint Resources Ltd
("Golden Saint", "GSR" or the "Company")
Placing and issue of shares
The board of Golden Saint (AIM:GSR) ("Board") is pleased to
announce that the Company has raised GBP169,660.00 before expenses,
by way of a placing ("Placing") of 942,555,555 new Ordinary Shares
of no par value in the Company ("Placing Shares") at a placing
price of 0.018 pence per share.
The Company intends to use the net proceeds of the Placing for
general working capital purposes, including maintenance of its
licences in Sierra Leone, pending disposal, and to complete the
conditional acquisition of EMS Wiring Systems Pte Ltd, announced on
18(th) December 2017.
In addition, the Company has issued 277,777,777 new Ordinary
Shares ("Consultant Shares") to key consultants in lieu of services
rendered. The Consultant Shares are being issued at a price of
0.018 pence per share, being the same as the placing price.
The Placing Shares and the Consultant Shares will rank pari
passu with the existing Ordinary Shares. As trading in the
Company's shares remains suspended on AIM, no application has been
made at this stage for the Placing Shares and the Consultant Shares
to be admitted to trading on London Stock Exchange.
Following the issue of the Placing Shares and the Consultant
Shares, the Company's issued share capital will consist of
12,970,304,200 Ordinary Shares with voting rights. There are no
Ordinary Shares held in treasury. This number 12,970,304,200 may be
used by shareholders, following issue, as the denominator for the
calculations 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, of which the Company
has incorporated Chapter 5 into its articles of association.
All exploration activities at the Company's Sierra Leone
operations were placed on care and maintenance during the recent
election in the country and will remain on care and maintenance
until the disposal of these operations are completed.
Further announcements will be made, as appropriate, in due
course.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information please contact:
Golden Saint Resources Ltd Pierre Fourie +61 (0) 8 6145 4400
Beaumont Cornish Limited Roland Cornish/Rosalind Hill Abrahams +44 (0) 20 7628 3396
SVS Securities Plc Tom Curran / Ben Tadd +44 (0) 20 3700
0093
Cassiopeia Services LTD Stefania Barbaglio +44 (0) 79 4969
0338
This information is provided by RNS
The company news service from the London Stock Exchange
END
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