TIDMLION
RNS Number : 7624L
Lionsgold Limited
23 April 2018
Lionsgold Limited
("Lionsgold", "LION" or the "Company")
100% Ownership Of Goldbloc Achieved and Director/PDMR
Shareholdings
Lionsgold (LON: LION), the AIM quoted company focused on the
exploration, production and retail application of physical gold,
including the development of the digital currency Goldbloc, is
pleased to report that its share-for-share offer to the other
shareholders of TRAC Technology Ltd ("TRAC") has been concluded
with 100% acceptance and Lionsgold is now the 100% owner of TRAC
and Goldbloc.
Highlights:
-- All TRAC shareholders accepted Lionsgold's offer and have
been issued with New Ordinary Shares in Lionsgold in exchange for
their TRAC shares (the "New Ordinary Shares").
-- TRAC is now a wholly owned subsidiary of Lionsgold and LION
shall assign to TRAC its three-year exclusive right to utilise the
Railsbank Technology Ltd ("Railsbank") banking and compliance
platform for physical gold and gold derivatives to be transacted in
customer bank accounts.
-- The New Ordinary Shares issued to TRAC CEO Ralph Hazell and
his wife Nicola Hazell (who owned 25.63% of TRAC), as well as New
Ordinary Shares issued to Liongold's CEO Cameron Parry (5% of
TRAC), are subject to a six month hard lock-in period.
-- Lionsgold's 100% ownership of TRAC together with its 12.5%
ownership of Railsbank, sees the Company achieve its targeted
equity positions in the lead up to the release of Goldbloc
-scheduled for this quarter.
Lionsgold Non-Executive Chairman, David Price, commented: "We
are delighted to report that Lionsgold is now the 100% owner of
TRAC and Goldbloc, and we welcome those TRAC shareholders who have
become Lionsgold shareholders. Together with Lionsgold's 12.5%
ownership of Railsbank and the recent appointment of LION CEO
Cameron Parry to the Railsbank board, we believe Lionsgold's
position is optimised for the rollout of Goldbloc and maximised for
the benefit of all LION shareholders."
Details of the Issue of LION shares for TRAC shares
All TRAC Shareholders accepted the Offer prior to the Offer
close at 5.00 p.m. on Friday 20 April 2018.
Lionsgold has therefore allotted a total of 57,995,304 New
Ordinary Shares in Lionsgold to the shareholders of TRAC who held
the remaining 1,032 (45%) TRAC shares not already owned by
Lionsgold. 39,506,491 of the New Ordinary Shares will be subject to
a six month hard lock-in. Application will be made for the New
Ordinary Shares to be admitted to trading on AIM, which is expected
to take place on 27 April 2018. The New Ordinary Shares will rank
pari passu with existing ordinary shares.
TRAC CEO Ralph Hazell together with his wife Nicola Hazell, as
well as LION CEO Cameron Parry have agreed to enter into a six
month hard lock-in period from the date of admission to trading of
their New Ordinary Shares in Lionsgold issued in exchange for their
25.63%, 3.18% and 5.0% TRAC shareholdings respectively.
Director/PDMR Shareholdings
Following the issue of the New Ordinary Shares, the interests of
Cameron Parry and Ralph Hazell in the capital of the Company are as
follows:
Current New Ordinary Resulting Percentage
shareholding Shares shareholding
Cameron
Parry * 16,500,000 6,462,655 22,962,655 4.53
Ralph Hazell Nil 28,941,455 28,941,455 5.71
Nicola Hazell Nil 4,102,381 4,102,381 0.81
* the shares are held in Yarramen Corp Limited, Mr. Parry's
family trust
Set out at the foot of this announcement are the notifications
in accordance with Article 19.3 of the Market Abuse Regulation.
Total Voting Rights
In accordance with the provisions of the Disclosure Guidance and
Transparency Rules of the FCA ("DTRs"), the issued ordinary share
capital of Lionsgold following the issue of the New Ordinary
Shares, there shall be 506,845,660 Ordinary Shares with voting
rights attached (one vote per share). There are no shares held in
treasury. This total voting rights figure may be used by
shareholders as the denominator for the calculation by which they
will determine whether they are required to notify their interest
in, or a change to their interest in, Lionsgold under the DTRs.
About Goldbloc
Goldbloc has been developed through Lionsgold's fintech
subsidiary, TRAC Technology Ltd ("TRAC" or "The Real Asset
Company") evolving from the original TRAC offering available at
www.therealasset.co.uk to a digital gold currency utilised in bank
accounts. The Real Asset Company enables individuals to buy, hold
and trade gold and silver bullion securely and efficiently. The
user-friendly platform sits on top of global vaulting
infrastructure, providing an online account for buying gold and
silver and holding precious metals.
Goldbloc, provides the safety and tangibile value of physical
gold with the convenience of everyday banking. Goldbloc's unique
proposition and competitive advantage is the ability to provide a
bank account and debit card linked to physical gold directly owned
by the banking customer.
Each Goldbloc is 1/1,000(th) of a gram of gold and developed to
be deposited and spent via the global banking network.
www.goldbloc.com
About Railsbank
Railsbank is a banking and compliance platform which connects a
global network of partner banks with companies who want API
(Application Programmer Interface) access to global banking.
Railsbank simplifies on-boarding companies to its banking
partners, then gives access via the Railsbank API to banking
services such as creating digital ledgers, connecting digital
ledgers to real bank accounts, issuing IBANs for ledgers, receiving
money, sending money, converting money (FX), collecting money
(direct debit), issuing cards, and managing credit.
www.railsbank.com
Enquiries:
Lionsgold Limited Tel: +44 (0)20 3778 0578
Cameron Parry (Chief Executive Officer)
WH Ireland Limited (Nominated Adviser) Tel: +44 (0)113 394 6600
Tim Feather/Chris Viggor
Smaller Company Capital Limited (Broker) Tel: +44 (0)20 3651 2911
Rupert Williams / Jeremy Woodgate
About LIONSGOLD Limited (LSE: LION)
Lionsgold is a London Stock Exchange AIM market quoted,
gold-focused company involved in the exploration, production and
retail application of physical gold, with gold assets in India and
Finland and a financial technology company developing the digital
gold currency, Goldbloc.
Lionsgold's three core focuses are:
-- Strategic partnership with leading India gold exploration and
mine development company, Geomysore, in which Lionsgold holds
21.15%;
-- Ownership of a financial technology platform providing online
accounts for people to hold and utilise physical gold
(www.goldbloc.com / www.indexgold.com / www.therealasset.co.uk);
and
-- Gold exploration and production in Finland via 30% ownership of Finnish joint venture.
1 Details of the person discharging managerial responsibilities/person closely associated
--- -----------------------------------------------------------------------------------------------------------------
a) Name Cameron Parry (through Yarramen Corp Limited)
--- ------------------------------------------------------- --------------------------------------------------------
2 Reason for the notification
--- -----------------------------------------------------------------------------------------------------------------
a) Position/status CEO
--- ------------------------------------------------------- --------------------------------------------------------
b) Initial notification/ Amendment Initial Notification
--- ------------------------------------------------------- --------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
--- -----------------------------------------------------------------------------------------------------------------
a) Name Lionsgold Limited
--- ------------------------------------------------------- --------------------------------------------------------
b) LEI GG00B3M9KL68
--- ------------------------------------------------------- --------------------------------------------------------
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 the financial instrument, type of Ordinary shares of no par value
instrument
Identification code GB00B3M9KL68
--- ------------------------------------------------------- --------------------------------------------------------
b) Nature of the transaction Issue of ordinary shares in consideration for
acquisition
--- ------------------------------------------------------- --------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
--------- ----------
2.3271p 6,462,655
--------- ----------
--- ------------------------------------------------------- --------------------------------------------------------
d) Aggregated information
* Aggregated volume 6,462,655
GBP150,392
* Price
--- ------------------------------------------------------- --------------------------------------------------------
e) Date of the transaction 23 April 2018
--- ------------------------------------------------------- --------------------------------------------------------
f) Place of the transaction Off market
--- ------------------------------------------------------- --------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
--- -----------------------------------------------------------------------------------------------------------------
a) Name Ralph Hazell
--- ------------------------------------------------------- --------------------------------------------------------
2 Reason for the notification
--- -----------------------------------------------------------------------------------------------------------------
a) Position/status CEO of TRAC Technology Limited
--- ------------------------------------------------------- --------------------------------------------------------
b) Initial notification/ Amendment Initial Notification
--- ------------------------------------------------------- --------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
--- -----------------------------------------------------------------------------------------------------------------
a) Name Lionsgold Limited
--- ------------------------------------------------------- --------------------------------------------------------
b) LEI GG00B3M9KL68
--- ------------------------------------------------------- --------------------------------------------------------
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 the financial instrument, type of Ordinary shares of no par value
instrument
Identification code GB00B3M9KL68
--- ------------------------------------------------------- --------------------------------------------------------
b) Nature of the transaction Issue of ordinary shares in consideration for
acquisition
--- ------------------------------------------------------- --------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
--------- -----------
2.3271p 28,941,455
--------- -----------
--- ------------------------------------------------------- --------------------------------------------------------
d) Aggregated information
* Aggregated volume 28,941,455
GBP673,497
* Price
--- ------------------------------------------------------- --------------------------------------------------------
e) Date of the transaction 23 April 2018
--- ------------------------------------------------------- --------------------------------------------------------
f) Place of the transaction Off market
--- ------------------------------------------------------- --------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
--- -----------------------------------------------------------------------------------------------------------------
a) Name Nicola Hazell
--- ------------------------------------------------------- --------------------------------------------------------
2 Reason for the notification
--- -----------------------------------------------------------------------------------------------------------------
a) Position/status Spouse of Ralph Hazell (CEO of TRAC Technology Limited)
--- ------------------------------------------------------- --------------------------------------------------------
b) Initial notification/ Amendment Initial Notification
--- ------------------------------------------------------- --------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
--- -----------------------------------------------------------------------------------------------------------------
a) Name Lionsgold Limited
--- ------------------------------------------------------- --------------------------------------------------------
b) LEI GG00B3M9KL68
--- ------------------------------------------------------- --------------------------------------------------------
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 the financial instrument, type of Ordinary shares of no par value
instrument
Identification code GB00B3M9KL68
--- ------------------------------------------------------- --------------------------------------------------------
b) Nature of the transaction Issue of ordinary shares in consideration for
acquisition
--- ------------------------------------------------------- --------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
--------- ----------
2.3271p 4,102,381
--------- ----------
--- ------------------------------------------------------- --------------------------------------------------------
d) Aggregated information
* Aggregated volume 4,102,381
GBP95,467
* Price
--- ------------------------------------------------------- --------------------------------------------------------
e) Date of the transaction 23 April 2018
--- ------------------------------------------------------- --------------------------------------------------------
f) Place of the transaction Off market
--- ------------------------------------------------------- --------------------------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCKMGZDRFLGRZG
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April 23, 2018 05:03 ET (09:03 GMT)
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