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Golden Saint Resources Ltd RNS Release

Placing and issue of shares


RNS Number : 3033K
Golden Saint Resources Ltd
09 April 2018
 

 9 April 2018

Golden Saint Resources Ltd

 

("Golden Saint", "GSR" or the "Company")

 

Placing and issue of shares

 

 

The board of Golden Saint (AIM:GSR) ("Board") is pleased to announce that the Company has raised £169,660.00   before expenses, by way of a placing ("Placing") of 942,555,555   new Ordinary Shares of no par value in the Company ("Placing Shares") at a placing price of 0.018 pence per share.

 

The Company intends to use the net proceeds of the Placing for general working capital purposes, including maintenance of its licences in Sierra Leone, pending disposal, and to complete the conditional acquisition of EMS Wiring Systems Pte Ltd, announced on 18th December 2017.

 

In addition, the Company has issued 277,777,777 new Ordinary Shares ("Consultant Shares") to key consultants in lieu of services rendered. The Consultant Shares are being issued at a price of 0.018 pence per share, being the same as the placing price.

 

The Placing Shares and the Consultant Shares will rank pari passu with the existing Ordinary Shares. As trading in the Company's shares remains suspended on AIM, no application has been made at this stage for the Placing Shares and the Consultant Shares to be admitted to trading on London Stock Exchange.

Following the issue of the Placing Shares and the Consultant Shares, the Company's issued share capital will consist of 12,970,304,200 Ordinary Shares with voting rights. There are no Ordinary Shares held in treasury. This number 12,970,304,200 may be used by shareholders, following issue, as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules, of which the Company has incorporated Chapter 5 into its articles of association.

All exploration activities at the Company's Sierra Leone operations were placed on care and maintenance during the recent election in the country and will remain on care and maintenance until the disposal of these operations are completed.

 

Further announcements will be made, as appropriate, in due course.

 

T his announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.  

 

 

For further information please contact:

 

Golden Saint Resources Ltd        Pierre Fourie                                                  +61 (0) 8 6145 4400

Beaumont Cornish Limited         Roland Cornish/Rosalind Hill Abrahams       +44 (0) 20 7628 3396

SVS Securities Plc                       Tom Curran / Ben Tadd                                  +44 (0) 20 3700 0093

Cassiopeia Services LTD             Stefania Barbaglio                                          +44 (0) 79 4969 0338


This information is provided by RNS
The company news service from the London Stock Exchange
 
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