Kolar Gold Limited Result of General Meeting and Director's Dealing (4131F)
27 July 2016 - 11:04PM
UK Regulatory
TIDMKGLD
RNS Number : 4131F
Kolar Gold Limited
27 July 2016
Kolar Gold Limited
(the "Company")
Result of General Meeting and Director's Dealing
Kolar Gold Limited (LON: KGLD), the AIM-quoted India gold
exploration and mine development company, is pleased to announce
that at the extraordinary general meeting held today all
resolutions were duly passed.
The passing of the resolutions enables the completion of the
placing announced on 12 July 2016, which will raise gross proceeds
of GBP900,000 at 1.1p per share through the issue of 81,181,812 new
ordinary shares (the "Placing Shares").
The resolutions also included approval, inter alia, for: (i) the
appointments of Cameron Parry and Luke Cairns as directors of the
Company, which will take effect on admission of the Placing Shares
to AIM; and (ii) the redesignation of the ordinary shares of 7p in
the capital of the Company as ordinary shares of no par value.
As also previously disclosed on 12 July 2016, the Company has
also today issued 5,000,000 new ordinary shares to Cameron Parry as
part of his remuneration package ("Remuneration Shares") on his
appointment as a director of the Company. Following the
transaction, including his participation in the placing, Cameron
Parry's total holding in the Company is 7,000,000 shares,
representing approximately 3.62% of the issued share capital of the
Company.
The Placing Shares and the Remuneration Shares have been issued
and allotted, conditional only on admission to AIM. Application has
been made for the Placing Shares and Remuneration Shares to be
admitted to trading on AIM and it is expected that dealings will
commence on 28 July 2016. Following admission, the Company's
enlarged issued ordinary share capital will comprise 193,111,719
ordinary shares of no par value. This is the total voting rights
figure that may be used by shareholders as the denominator for the
calculations by which they will determine whether they are required
to notify their interests in, or a change to their interests in,
the Company.
For further information, please visit www.kolargold.com.au or
contact:
Harvinder Hungin Tel: 01481 702 400
Chairman
Tim Feather / Liam Gribben Tel: 0113 394 6600
WH Ireland Limited (Nominated Adviser)
Rupert Williams Tel: 020 3651 2911
Vicarage Capital Limited (Broker)
Edward Portman Tel: 020 7920 3150
Tavistock (Financial PR)
This information is provided by RNS
The company news service from the London Stock Exchange
END
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