Sula Iron & Gold PLC Director's Dealing and Notifiable Interests (3807C)
13 April 2017 - 4:00PM
UK Regulatory
TIDMSULA
RNS Number : 3807C
Sula Iron & Gold PLC
13 April 2017
13 April 2017
Sula Iron & Gold plc
("Sula" or the "Company")
Director's Dealing and Notifiable Interests
Sula (AIM: SULA), the gold exploration company focused on Sierra
Leone, was yesterday notified by Madini Occidental Limited
("Occidental") that on 12 April 2017, Occidental transferred its
entire holding of 304,642,410 ordinary shares of 0.1p each in the
Company ("Ordinary Shares") to Galactic Tide Ltd ("Galactic"),
together with the 304,642,410 warrants, which were originally
issued to Occidental in November 2016 (the "Transfer").
Accordingly, Occidental and its 75% shareholder, Madini Minerals,
no longer have notifiable interests in the Company's issued share
capital. Ongeza Mining, a subsidiary of Madini Minerals, retains
its holding of 38,168,052 Ordinary Shares and continues to provide
financial and technical advice to Sula.
Following the Transfer, Galactic is interested in 304,642,410
Ordinary Shares, representing approximately 13.76% of Sula's share
capital. Galactic is a privately-owned investment company
incorporated in the Seychelles. Mr Mike Warren, an experienced
mining professional, who is the 100% owner of Equity Drilling
Limited, the Company's current drill contractor carrying out the
current drill programme on the Company's Ferensola Project, has a
non-controlling shareholding in Galactic. Accordingly, Mr Warren's
indirect interest in Sula, through Galactic, is 152,321,205
Ordinary Shares, representing approximately 6.9% of the Company's
issued share capital.
The Company has also been notified by Mr Iain Macpherson, a
director of the Company, that Mr Macpherson has an indirect
non-controlling shareholding in Galactic. As a result of the
abovementioned Transfer, Mr Macpherson's direct and indirect
shareholding in Sula is now, in aggregate, 128,743,370 Ordinary
Shares, representing approximately 5.8% of the Company's issued
share capital.
For further information, please visit www.sulaironandgold.com or
contact:
Sula Iron & Gold plc +44 (0) 20 7583
Roger Murphy, CEO 8304
Strand Hanson Limited (Financial
and Nominated Adviser)
James Harris
Matthew Chandler +44 (0) 20 7409
James Dance 3494
VSA Capital Limited (Financial
Adviser and Corporate Broker)
Andrew Monk
Andrew Raca +44 (0) 20 3005
Justin McKeegan 5000
Ongeza Mining (Financial and Technical
Adviser)
Iain Macpherson +27 (0) 11 469
Ilja Graulich 0629
The information contained within this announcement is deemed by
the Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014 ("MAR").
The notifications set out below are provided in accordance with
the requirements of MAR.
Notification of a Transaction pursuant to Article
19(1) of Regulation (EU) No. 596/2014
------------------------------------------------------------------------------
1 Details of the person discharging managerial
responsibilities/person closely associated
----- -----------------------------------------------------------------------
a. Name Mr Iain Macpherson
-----------------------------------------
2 Reason for
notification
----- ---------------------------- -----------------------------------------
a. Position/Status Non-executive Director of Sula
Iron & Gold plc
----- ---------------------------- -----------------------------------------
b. Initial notification/ Initial Notification
Amendment
----- ---------------------------- -----------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------
a. Name Sula Iron & Gold plc
----- ---------------------------- -----------------------------------------
b. LEI 213800VNXOUPHTX53686
----- ---------------------------- -----------------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; and (iii) each
date transactions have been conducted
----- -----------------------------------------------------------------------
a. Description Ordinary Shares of 0.1p each
of the financial
instrument,
type of instrument
ISIN: GB00B6Y3CV16
Identification
Code
----- ---------------------------- -----------------------------------------
b. Nature of the Transfer of shares to a company
transaction of which the PDMR is an indirect
shareholder
----- ---------------------------- -----------------------------------------
c. Price(s) and Price(s) Volume(s)
volume(s)
----- ---------------------------- ------------------- ----------------
GBP0.0040 90,473,622
------------------------------------------------------ ----------------
d. Date of the 2017-04-12
transaction
----- ---------------------------- -----------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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