Kolar Gold Limited Proposed Change of Name (8164V)
02 February 2017 - 6:00PM
UK Regulatory
TIDMKGLD
RNS Number : 8164V
Kolar Gold Limited
02 February 2017
2 February 2017
Kolar Gold Limited
("Kolar" or the "Company")
Proposed Change of Name
As announced in the Company's operational update on 18 January
2017, the Directors have undertaken a review of the name and
branding of the Company to better reflect Kolar's more diversified
interests since the current Directors joined the Board during the
second half of last year.
The Board has, subject to shareholder approval, decided to
change the name of the Company to Lionsgold Limited ("Lionsgold")
(the "Name Change").
The name "Kolar Gold" is historically reflective of the
Company's efforts in relation to the Kolar goldfields and its work
in respect of Bharat Gold Mines Limited therefore the Directors
believe the name no longer accurately represents the Company's
wider initiatives.
Recently the Board has been focusing its Indian efforts on its
strategic ownership position and relationship with leading India
gold exploration and mine development company, Geomysore India
Services Limited. In addition the Company has diversified its gold
interests into Finland through its stake in the recently
incorporated Kalevala Gold Oy, as well as the joint venture with
TRAC Technology Limited to develop a gold holding and trading
platform for the Indian market.
In anticipation of the Name Change the Company has reserved the
ticker: 'LION' and the domain name www.lionsgold.com, both of which
will go live when the Name Change takes effect.
Circular and Extraordinary General Meeting
The Company will tomorrow post a circular to shareholders
providing further details of the Name Change and incorporating
notice of an extraordinary general meeting to held on 23 February
2017, at which resolutions to effect the Name Change will be put to
shareholders (the "Circular"). The Circular shall be available on
the Company's website, www.kolar-gold.com once posted.
Cameron Parry, Chief Executive Officer, commented:
"Our new name, Lionsgold, reflects the Company's expanded
outlook as well as our engagement with both India and the UK.
"With the symbol of the lion moving forward, Lionsgold better
encompasses the positioning of the Company, the lion being a
national symbol in both England and India, and more generally
associated with strength, leadership and community. These
characteristics are relevant to all of our ambitions, including
Lionsgold's wider activities and the development of our Finland
project.
"The future prospects for each of our core initiatives are
extremely promising. Lionsgold now has the potential for the
significant development of two gold producing assets, through our
partnership with Geomysore in India, and our operating entity
Kalevala Gold in Finland. Establishing a physical gold holding and
trading fintech platform in India also has huge potential for
growth and perfectly complements our gold exploration and mine
development activities."
For further information, please visit www.kolar-gold.com or
contact:
Kolar Gold Limited Tel: +44 (0) 20 7397 2880
Cameron Parry (Chief Executive Officer)
Luke Cairns (Executive Director)
WH Ireland Limited (Nominated Adviser) Tel: +44 (0) 113 394 6600
Tim Feather
Ed Allsopp
Vicarage Capital Limited (Broker) Tel: +44 (0) 20 3651 2911
Rupert Williams
Jeremy Woodgate
Tavistock (Financial PR) Tel: +44 (0) 20 7920 3150
Emily Fenton
Edward Lee
About Kolar Gold
Kolar Gold is an AIM-quoted India-Finland gold exploration
company, that is also establishing an online exchange for the
direct ownership and trading of physical gold by retail investors
in India.
Kolar Gold's three pillars are:
-- Strong partnership with leading India gold exploration and
mine development company, Geomysore, in which the Company owns a
20.5% stake;
-- Provide a physical gold holding and trading fintech platform for the Indian market; and
-- Jurisdictional diversification through gold exploration and production in Finland.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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