SVE Starvest Plc

TIDMSVE

RNS Number : 6186U

Starvest PLC

08 April 2016

Friday 8 April 2016

Starvest Plc ("Starvest" or "the Company")

The Company is pleased to announce that it has agreed to invest GBP50,000 to acquire 50 million ordinary shares in Greatland Gold plc (AIM: GGP) ("Greatland"), a company of which Starvest director Callum Baxter is a director and of which Starvest director John Watkins was a director until his resignation was announced on 6 April. The consideration will be satisfied out of the Company's cash reserves.

Following admission of the shares to trading, Starvest will hold 85,333,333 shares in Greatland representing 7.2% of Greatland's enlarged share capital. Greatland reported a loss of GBP218,846 for the six months ended 31 December 2015 and had net assets of GBP705,068 at that date. The Starvest directors believe that the investment represented an opportunity to increase its stake in Greatland at a particularly interesting stage of its development.

 
 Callum N Baxter 
  Chairman & Chief Executive 
  8 April 2016 
 

Enquiries to:

Callum Baxter, Chairman callum@starvest.co.uk or John Watkins, Finance Director 07768 512404; john@starvest.co.uk

Colin Aaronson or Harrison Clarke - Grant Thornton UK LLP 020 7383 5100

Nick Emerson or Andy Thacker - SI Capital Limited 01483 413500

END

This information is provided by RNS

The company news service from the London Stock Exchange

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April 08, 2016 04:46 ET (08:46 GMT)

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