Issue of equity (1491C)
April 26 2012 - 7:20AM
UK Regulatory
TIDMCSS
RNS Number : 1491C
CSS Stellar PLC
26 April 2012
26 April 2012
CSS Stellar plc
(the "Company")
Issue of equity
The Company is pleased to announce that it has conditionally
placed 22,222,222 new ordinary shares of 1p each at a price of
2.25p (the "Placing Shares") with new investors ("the Placing") to
raise GBP500,000. The Placing will provide the Company with
additional funds to provide its share of the costs to undertake the
next phase of exploration of the Dolgellau gold-belt in North
Wales.
David Lenigas, Chairman, commented: 'Following the highly
promising findings of the Snowden independent technical report,
which showed potential for 130,000 - 500,000 ounces of gold, we are
now funded to accelerate the current exploration programme of the
largest known gold province in the UK."
Application will be made for the Placing Shares, which will rank
pari passu with the existing
ordinary shares, to be admitted to AIM. Dealings in the Placing
Shares are expected to commence on or around 14 May 2012
("Admission").
Following Admission, there will be 92,230,985ordinary shares in
issue. This number may be used by shareholders in the Company as
the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change in
their interest in, the share capital of the Company.
Following the issue and allotment of the Placing Shares and
Admission, the interests of the
Directors and those shareholders who are interested, where
known, in 3% or more of the
issued share capital of the Company will be as follows:
Directors
David Lenigas 1.7%
Over 3 %
Victorian Gold Ltd 20.1%
Gledhow Investments plc 9.6%
Lynchwood Nominees 6.9%
Amberdays Limited 7.2%
For further enquiries, please contact:
CSS Stellar plc
David Lenigas
Charles Wood
Lincoln Moore +44 (0) 20 74400640
Northland Capital (Nominated Adviser & Broker)
Luke Cairns +44 (0) 20 7796
Edward Hutton 8800
Pelham Bell Pottinger - (Investor and Media
Relations)
Charlie Vivian
Daniel Thole +44 (0)20 7861 3232
This information is provided by RNS
The company news service from the London Stock Exchange
END
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