Lionsgold Limited Issue of Equity and PDMR Shareholdings (8032Z)
20 December 2017 - 2:51AM
UK Regulatory
TIDMLION
RNS Number : 8032Z
Lionsgold Limited
19 December 2017
Lionsgold Limited
("Lionsgold", "LION" or the "Company")
Issue of Equity and Director/PDMR Shareholdings
Lionsgold (LON: LION), the AIM quoted company focused on the
exploration, production and retail application of physical gold,
including the development of the Goldbloc digital currency,
announces that it has conditionally issued 6,500,000 new ordinary
shares of nil par value each ("Ordinary Shares") (the "Subscription
Shares") and 6,500,000 warrants to subscribe for new Ordinary
Shares (the "Subscription Warrants") to certain directors and
PDMRs.
On 30 November 2017 the Company announced details of a placing
to raise GBP550,000 through the issue of 68,750,000 new Ordinary
Shares at a price of 0.8p per share, with each share carrying a
warrant to subscribe for an additional share at a price of 1.2p
prior to 31 December 2018 (the "Placing"). On 1 December 2017 LION
announced that a further GBP200,000 had been conditionally raised
on the same terms as the Placing.
The announcement of 30 November 2017 stated: "Lionsgold
directors and persons discharging managerial responsibilities
("PDMRs") were unable to participate in the Placing because the
Company is currently in a close period ahead of the publication of
its results for the year ended 30 June 2017. The Company intends to
allow its directors and PDMRs the opportunity to subscribe for
further Ordinary Shares and warrants on the same terms as the
Placing once the close period has ended."
Prior to the Placing, on 27 November 2017, the Company notified
its Nominated Adviser in writing that it had indications from
certain directors and PDMRs including the CEO, that they wished to
participate in a subscription for the total amount of GBP52,000.
The Company has therefore conditionally issued the Subscription
Shares and Subscription Warrants on that basis as set out
below:
Subscription No. of No. of
GBP Subscription Subscription
Shares Warrants
Non-Executive
David Price Chairman GBP4,000 500,000 500,000
Cameron Chief Executive
Parry Officer GBP40,000 5,000,000 5,000,000
Chief Financial
Adam Ronaldson Officer GBP4,000 500,000 500,000
CEO of TRAC
Ralph Hazel Technology Ltd GBP4,000 500,000 500,000
GBP52,000 6,500,000 6,500,000
Completion of the issue of the Subscription Shares and
Subscription Warrants is conditional on the passing of the
necessary resolutions at the AGM on 28 December 2017. The
Subscription Shares will be issued at a price of 0.8p per share.
Each Subscription Warrants entitles the holder to subscribe for a
new Ordinary Share at an exercise price of 1.2 pence per share with
an exercise period of up to 31 December 2018. If the Lionsgold
share price exceeds a 5 day volume weighted average price exceeding
3.6p during the warrant term, the Company has the right to serve
notice on warrant holders to exercise warrants. Should the Company
serve notice, any warrants unexercised within the 7 day time period
allowed would be cancelled.
Subject to the passing of the necessary resolutions at the AGM,
the Subscription Shares are expected to be admitted to trading on
AIM on or around 29 December 2017.
Enquiries:
Lionsgold Limited Tel: +44 (0)203778 0578
Cameron Parry (Chief Executive Officer)
WH Ireland Limited (Nominated Adviser) Tel: +44 (0)113 394 6600
Tim Feather/Ed Allsopp
Smaller Company Capital Limited (Joint Broker) Tel: +44 (0)20 3651 2911
Rupert Williams / Jeremy Woodgate
Beaufort Securities Limited (Joint Broker) Tel: +44 (0)20 7382 8300
Elliot Hance
Tavistock (Financial PR) Tel: +44 (0) 20 7920 3150
Edward Lee
About LIONSGOLD Limited (LON: LION)
Lionsgold is a London Stock Exchange AIM market quoted,
gold-focused company involved in the exploration, production and
retail application of physical gold, with gold assets in India and
Finland and a majority owned financial technology company
developing the digital gold currency, Goldbloc.
Lionsgold's three core focuses are:
-- Strategic partnership with leading India gold exploration and
mine development company, Geomysore, in which Lionsgold holds
21.15%;
-- Majority ownership of a financial technology platform
providing online accounts for people to hold and utilise physical
gold (www.goldbloc.com / www.indexgold.com /
www.therealasset.co.uk); and
-- Gold exploration and production in Central Eastern Finland.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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