Starvest PLC Warrant Exercise - Greatland Gold PLC (0144J)
23 June 2017 - 8:30PM
UK Regulatory
TIDMSVE
RNS Number : 0144J
Starvest PLC
23 June 2017
23 June 2017
Starvest Plc ("Starvest" or "the Company")
Warrant Exercise - Greatland Gold PLC
Starvest PLC (LON:SVE), the London Stock Exchange AIM listed
specialist mining and resources investment business, is pleased to
announce it has exercised warrants in investee company Greatland
Gold PLC (LON:GGP).
Highlights
-- Starvest exercises 50,000,000 warrants in Greatland Gold;
-- Greatland remains a core holding for Starvest, and post
warrant exercise Starvest will maintain 85,333,333 shares in
Greatland;
-- Very pleased with recent progress at Greatland's Ernest Giles and Havieron projects.
Callum Baxter, Chairman and CEO commented: "Starvest is very
pleased with the recent developments at Greatland Gold, where I am
also a director, including the agreement with global gold major
Newmont, the increasing level of exploration activity in the
Paterson region and announcement of the exciting new Panorama
cobalt project. Greatland remains a core holding for Starvest and
we look forward to following Greatland's progress closely.'
Exercise of Warrants
On 8 April 2016, the Company announced that it had acquired 50
million shares in Greatland Gold plc (AIM: GGP) ("Greatland"),
taking its holding to 85,333,333 shares which then represented 7.2%
of Greatland's issued share capital. As a subscriber for shares in
the Greatland placing Starvest was awarded warrants to subscribe
for Greatland shares at a price of 0.2p per share.
The Company announces that it has exercised its warrants to
acquire 50 million shares at 0.2p per share. These shares replace
50 million Greatland shares that Starvest has sold in the market
for approximately GBP340,000 so Starvest continues to hold
85,333,333 shares in Greatland. The profit from this transaction
will be used to provide working capital for the Company and to
enable it to continue to implement its investing policy.
Enquiries to:
Starvest PLC
Callum Baxter Chairman/CEO 07922 255 933
cbaxter@starvest.co.uk
John Watkins Finance Director 07768 512 404
jwatkins@starvest.co.uk
Grant Thornton UK LLP (Nomad)
Colin Aaronson or Harrison Clarke 02073 835 100
SI Capital Ltd (Appointed Broker)
Nick Emerson or Andy Thacker 01483 413 500
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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