TIDMCNR
RNS Number : 4343K
Condor Gold PLC
10 April 2018
Condor Gold plc
7th Floor
39 St. James's Street
London
SW1A 1JD
Telephone +44 020 74932784
Fax: +44 020 74938633
10(th) April 2018
Condor Gold plc
("Condor", "Condor Gold" or the "Company")
Holdings in the Company
The Board of Condor Condor Gold (AIM: CNR; OTCQX: CNDGF; TSX:
COG) announces that the Company has received the following TR-1
notification which is set out below.
TR-1: Standard form for notification of major holdings
NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant
issuer and to the FCA in Microsoft Word format if possible)(i)
-----------------------------------------------------------------------------------------------------
1a. Identity of the issuer Condor Gold Plc
or the underlying issuer
of existing shares to which
voting rights are attached(ii)
:
------------------------------------------------- --------------------------------------------------
1b. Please indicate if the issuer is a non-UK issuer
(please mark with an "X" if appropriate)
-----------------------------------------------------------------------------------------------------
Non-UK issuer
-------------------------------------------------------------------------------------- -------------
2. Reason for the notification (please mark the appropriate
box or boxes with an "X")
-----------------------------------------------------------------------------------------------------
An acquisition or disposal of voting rights X
-------------------------------------------------------------------------------------- -------------
An acquisition or disposal of financial instruments
-------------------------------------------------------------------------------------- -------------
An event changing the breakdown of voting rights X
-------------------------------------------------------------------------------------- -------------
Other (please specify)(iii)
-------------------------------------------------------------------------------------- -------------
3. Details of person subject to the notification obligation(iv)
Name City Financial Investment
Company Limited, acting as
Investment Manager and Authorised
Corporate Director.
City and country of registered London, United Kingdom
office (if applicable)
4. Full name of shareholder(s) (if different from 3.)(v)
-----------------------------------------------------------------------------------------------------
Name BNY Mellon Trust and Depositary
acting as Trustee to the
Absolute Equity Fund.
------------------------------------------------- --------------------------------------------------
City and country of registered London, United Kingdom
office (if applicable)
------------------------------------------------- --------------------------------------------------
5. Date on which the threshold 04/04/2018
was crossed or reached(vi)
:
------------------------------------------------- --------------------------------------------------
6. Date on which issuer notified
(DD/MM/YYYY): 09/04//2018
------------------------------------------------- --------------------------------------------------
7. Total positions of person(s) subject to the notification
obligation
-----------------------------------------------------------------------------------------------------
% of voting % of voting Total of Total number
rights attached rights through both in % of voting
to shares financial (8.A + 8.B) rights of
(total of instruments issuer(vii)
8. A) (total of
8.B 1 + 8.B
2)
---------------------- ------------------------- ----------------- ---------------- -------------
Resulting
situation
on the date
on which
threshold
was crossed
or reached 5.19 0 5.19 3,486,376
---------------------- ------------------------- ----------------- ---------------- -------------
Position N/A N/A N/A
of previous
notification
(if
applicable)
---------------------- ------------------------- ----------------- ---------------- -------------
8. Notified details of the resulting situation on the
date on which the threshold was crossed or reached(viii)
--------------------------------------------------------------------------------------------------------------
A: Voting rights attached to shares
--------------------------------------------------------------------------------------------------------------
Class/type Number of voting rights(ix) % of voting rights
of
shares
ISIN code
(if possible)
-----------------
Direct Indirect Direct Indirect
(Art 9 of (Art 10 of (Art 9 of (Art 10 of
Directive Directive Directive Directive
2004/109/EC) 2004/109/EC) 2004/109/EC) 2004/109/EC)
(DTR5.1) (DTR5.2.1) (DTR5.1) (DTR5.2.1)
---------------- -------------------- -------------- ------------------------------ ---------------------
GB00B8225591 3,486,376 0 5.19 0
----------------- -------------------- -------------- ------------------------------ ---------------------
SUBTOTAL
8. A 3,486,376 5.19
----------------- ------------------------------------ -----------------------------------------------------
B 1: Financial Instruments according to Art. 13(1)(a)
of Directive 2004/109/EC (DTR5.3.1.1 (a))
--------------------------------------------------------------------------------------------------------------
Type of Expiration Exercise/ Number of voting % of voting
financial date(x) Conversion rights that rights
instrument Period(xi) may be acquired
if the instrument
is
exercised/converted.
----------------- -------------------- -------------- ------------------------------ ---------------------
SUBTOTAL 8.
B 1
-------------- ------------------------------ ---------------------
B 2: Financial Instruments with similar economic effect
according to Art. 13(1)(b) of Directive 2004/109/EC
(DTR5.3.1.1 (b))
--------------------------------------------------------------------------------------------------------------
Type of Expiration Exercise/ Physical Number % of voting
financial date(x) Conversion or cash of voting rights
instrument Period settlement(xii) rights
(xi)
---------------- --------------------- -------------- ----------------- ----------- ---------------------
SUBTOTAL
8.B.2
----------------- ----------- ---------------------
9. Information in relation to the person subject to
the notification obligation (please mark the
applicable box with an "X")
Person subject to the notification obligation is X
not controlled by any natural person or legal entity
and does not control any other undertaking(s) holding
directly or indirectly an interest in the (underlying)
issuer(xiii)
Full chain of controlled undertakings through which NA
the voting rights and/or the
financial instruments are effectively held starting
with the ultimate controlling natural person or legal
entity(xiv) (please add additional rows as necessary)
---------------------------------------------------------------- ---------------------
Name(xv) % of voting % of voting Total of both
rights if it rights through if it equals
equals or is financial instruments or is higher
higher than if it equals than the notifiable
the notifiable or is higher threshold
threshold than the notifiable
threshold
-------------- --------------------- ----------------------- -----------------------
10. In case of proxy voting, please identify:
---------------------------------------------------------------------------------------
Name of the proxy holder NA
------------------------------------- ------------------------------------------------
The number and % of voting NA
rights held
------------------------------------- ------------------------------------------------
The date until which the voting NA
rights will be held
------------------------------------- ------------------------------------------------
11. Additional information(xvi)
---------------------------------------------------------------------------------------
Total shares in issue figure used as basis for calculations:
67,179,335
---------------------------------------------------------------------------------------
Place of completion City Financial Investment Company Limited,
London
-------------------- -------------------------------------------
Date of completion 09/04/2018
-------------------- -------------------------------------------
- Ends -
For further information please visit www.condorgold.com or
contact:
Condor Gold Mark Child, Chairman and CEO
plc +44 (0) 20 7493 2784
Beaumont Cornish Roland Cornish and James Biddle
Limited +44 (0) 20 7628 3396
Numis Securities John Prior and James Black
Limited +44 (0) 20 7260 1000
Blytheweigh Tim Blythe, Camilla Horsfall
and Megan Ray
+44 (0) 20 7138 3204
About Condor Gold plc:
Condor Gold plc was admitted to AIM on 31 May 2006. The Company
is a gold exploration and development company with a focus on
Central America.
Condor published a Pre-Feasibility Study ("PFS") on its wholly
owned La India Project in Nicaragua in December 2014, as summarized
in the Technical Report (as defined below). The PFS details an open
pit gold mineral reserve in the Probable category of 6.9 Mt at 3.0
g/t gold for 675,000 oz gold, producing 80,000 oz gold per annum
for seven years. La India Project contains a mineral resource in
the Indicated category of 9.6 Mt at 3.5 g/t for 1.08 million oz
gold and a total mineral resource in the Inferred category of 8.5
Mt at 4.5 g/t for 1.23 million oz gold. The Indicated mineral
resource is inclusive of the mineral reserve.
Disclaimer
Neither the contents of the Company's website nor the contents
of any website accessible from hyperlinks on the Company's website
(or any other website) is incorporated into, or forms part of, this
announcement.
Technical Information
Certain disclosure contained in this news release of a
scientific or technical nature has been summarized or extracted
from the technical report entitled "Technical Report on the La
India Gold Project, Nicaragua, December 2014", dated November 13,
2017 with an effective date of December 21, 2014 (the "Technical
Report"), prepared in accordance with National Instrument 43-101 -
Standards of Disclosure for Mineral Projects ("NI 43-101"). The
Technical Report was prepared by or under the supervision of Tim
Lucks, Principal Consultant (Geology & Project Management),
Gabor Bacsfalusi, Principal Consultant (Mining), Benjamin Parsons,
Principal Consultant (Resource Geology), each of SRK Consulting
(UK) Limited, and Neil Lincoln of Lycopodium Minerals Canada Ltd.,
each of whom is an independent Qualified Person as such term is
defined in NI 43-101.
David Crawford, Chief Technical Officer of the Company and a
Qualified Person as defined by NI 43-101, has approved the written
disclosure in this press release that is of a technical or
scientific nature.
Forward Looking Statements
All statements in this press release, other than statements of
historical fact, are "forward-looking information" with respect to
the Company within the meaning of applicable securities laws,
including statements with respect to: completion of the Placing and
the Directors' Subscription, the admission of the Placing Shares
and Directors' Shares on AIM, the use of proceeds of the Placing,
the Company's receipt of permits for the La India Project,
estimates of future production at the La India Project, and
estimates of mineral resources and mineral reserves.
Forward-looking information is often, but not always, identified by
the use of words such as "seek", "anticipate", "plan", "continue",
"strategies", "estimate", "expect", "project", "predict",
"potential", "targeting", "intends", "believe", "potential",
"could", "might", "will" and similar expressions. Forward-looking
information is not a guarantee of future performance and is based
upon a number of estimates and assumptions of management at the
date the statements are made including, among others, assumptions
regarding: future commodity prices and royalty regimes;
availability of skilled labour; timing and amount of capital
expenditures; future currency exchange and interest rates; the
impact of increasing competition; general conditions in economic
and financial markets; availability of drilling and related
equipment; effects of regulation by governmental agencies; the
receipt of required permits; royalty rates; future tax rates;
future operating costs; availability of future sources of funding;
ability to obtain financing and assumptions underlying estimates
related to adjusted funds from operations. Many assumptions are
based on factors and events that are not within the control of the
Company and there is no assurance they will prove to be
correct.
Such forward-looking information involves known and unknown
risks, which may cause the actual results to be materially
different from any future results expressed or implied by such
forward-looking information, including, risks related to: mineral
exploration, development and operating risks; estimation of
mineralisation, resources and reserves; environmental, health and
safety regulations of the resource industry; competitive
conditions; operational risks; liquidity and financing risks;
funding risk; exploration costs; uninsurable risks; conflicts of
interest; risks of operating in Nicaragua; government policy
changes; ownership risks; permitting and licencing risks; artisanal
miners and community relations; difficulty in enforcement of
judgments; market conditions; stress in the global economy; current
global financial condition; exchange rate and currency risks;
commodity prices; reliance on key personnel; dilution risk; payment
of dividends; as well as those factors discussed under the heading
"Risk Factors" in the Company's long-form prospectus dated December
21, 2017, available under the Company's SEDAR profile at
www.sedar.com.
Although the Company has attempted to identify important factors
that could cause actual actions, events or results to differ
materially from those described in forward-looking information,
there may be other factors that cause actions, events or results
not to be as anticipated, estimated or intended. There can be no
assurance that such information will prove to be accurate as actual
results and future events could differ materially from those
anticipated in such statements. The Company disclaims any intention
or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise
unless required by law.
This information is provided by RNS
The company news service from the London Stock Exchange
END
HOLBGGDSLDBBGIG
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April 10, 2018 06:29 ET (10:29 GMT)
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