Scotgold Resources Ltd Update on sale of French Subsidiary (2813S)
June 22 2018 - 7:59AM
UK Regulatory
TIDMSGZ
RNS Number : 2813S
Scotgold Resources Ltd
22 June 2018
22 June 2018
Scotgold Resources Limited
("the Company" or "Scotgold")
Update on sale of French Subsidiary
The Company wishes to update the market on the status of the
sale of its French subsidiary, as announced on 15 March 2018 ("the
Transaction"). The sale is conditional upon the parties receiving
satisfactory acknowledgement from the Minerals Resources Office of
the Ministry for Economy and Finance of France, that the transfer
of shares is acceptable. The Company has not yet received such
acknowledgement and until such time as acknowledgement is received
and the contract for sale of the French subsidiary becomes
unconditionally enforceable, there must exist some uncertainty that
the sale will conclude, or that it will conclude on the terms
agreed.
The Company will continue to pursue a conclusion to the
Transaction, however, the directors consider that the Transaction
is not material in relation to the Company's operations and it does
not affect the current focus of the Company to develop the Cononish
gold mine project. This update announcement is made in the
interests of continuous and transparent disclosure and will be
updated further as circumstances become more clear.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
For further information -
Scotgold Resources Limited Tel: +44 (0)1838 400 306
Richard Gray
SP Angel Corporate Finance LLP Tel +44 (0) 20 3470 0470
Nomad and Joint Broker
Ewan Leggat / Charlie Bouverat
Smaller Company Capital Ltd Tel: +44 (0)20 3651 2911
Joint Broker
Rupert Williams
Capital Markets Consultants Tel: +44(0)7703 167 065
Financial PR
Simon Rothschild
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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