Issue of Shares to Director (6533T)
09 December 2011 - 6:00PM
UK Regulatory
TIDMKGLD
RNS Number : 6533T
Kolar Gold Limited
09 December 2011
9 December 2011
Kolar Gold Limited
("Kolar Gold" or the "Company")
Issue of Shares to Director
Kolar Gold Limited announces that it has issued 44,777 ordinary
shares of 7p each in the Company ("Ordinary Shares") to Mr. Steve
Coe in satisfaction of half the salary owed to Mr. Coe in respect
of his role as a non-executive Director of the Company for the
period from 8 February 2011, when Mr. Coe joined the Board of Kolar
Gold and 30 October 2011. The number of shares issued was
determined by reference to either the placing price (for months
before July 2011) or the volume weighted average price of the
Company's shares at the end of each month.
The 44,777 Ordinary Shares shall rank pari passu with the
Company's existing issued ordinary shares of no par value
("Ordinary Shares") and dealings are expected to commence on 14
December 2011.
Mr. Coe now holds 44,777 Ordinary Shares in the Company,
representing approximately 0.04 per cent. of the issued share
capital of the Company.
Following Admission, the Company's enlarged issued share capital
will comprise 100,151,796 Ordinary Shares with one voting right per
share. There are no shares held in treasury. The total number of
voting rights in the Company is therefore 100,151,796.
This figure of 100,151,796 Ordinary Shares 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 under the FSA's Disclosure and Transparency Rules.
For further information please contact:
Kolar Gold Limited
Nick Spencer +617 3846 0211
Cenkos Securities plc
Nomad and Joint Broker
Beth McKiernan/Ken Fleming 020 7397 8900/0131 220 6939
Ocean Equities Limited
Joint Broker
Will Slack 020 7786 4370
Tavistock Communications
Ed Portman/Lydia Eades 020 7920 3150
About Kolar Gold Limited
Kolar Gold Limited is an Indian gold exploration and development
company, listed on the AIM market (KGLD), that has an experienced
international board and strong local partners. KGL has rights to
explore and develop one prospecting licence and 13 further licence
applications in the Kolar Gold Belt, an 80 kilometre long Archaean
Greenstone Belt, in Southern India. The Kolar Gold Belt is one of
the most prospective underdeveloped Archaean Greenstone Belts in
the world and is regarded by Mr Andrew J Vigar of Mining Associates
Limited, the Competent Person, as comparable to the Archaean
Greenstone Belts of South Africa, Canada and Western Australia
which have similar geology, structure and style of mineralisation.
This project area includes 32 known mineralised prospects and
covers 568 square kilometres in the southern states of Andhra
Pradesh, Karnataka and Tamil Nadu. KGL commenced exploration on the
first Prospecting Licence in South Kolar in February 2011. KGL is
also jointly pursuing, with the mine employee unions, the
acquisition and revival of the neighbouring historic Kolar Gold
Fields which has produced 25 million ounces of gold at 15.9 grams
per tonne over 120 years until closure in 2001.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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