TIDMGRL
RNS Number : 6857C
Goldstone Resources Ltd
12 October 2022
12 October 2022
GOLDSTONE RESOURCES LIMITED
("GoldStone" or the "Company")
Director Fee Conversions
GoldStone Resources Limited (AIM:GRL) in aggregate, 3,753,230
ordinary shares of 1p each in the Company ("Ordinary Shares")
pursuant to the conversion of accrued Directors fees to 30 June
2022 and an issue of shares to certain senior managers of the
Company.
In order to preserve cash within the Company for working capital
purposes, certain of the company Directors have agreed to convert,
in aggregate, USD239,250 of outstanding fees accrued and unpaid to
30 June 2022 into 3,653,230 new Ordinary Shares at a conversion
price of 5.9p, being the mid-market closing price of the Company's
Ordinary Shares on 11 October 2022, the latest practicable date
prior to this announcement (the "Fee Conversion Shares").
Name Number of Number of Resultant Percentage
Ordinary Fee Conversion Shareholding of the issued
Shares Currently Shares in the Company Share Capital
Owned of the Company
Angela List 59,600,000* 320,660 59,920,660 12.08%
----------------- --------------- --------------- ---------------
Emma Priestley 2,711,546 2,485,112 5,196,658 1.05%
----------------- --------------- --------------- ---------------
Richard Wilkins 320,660 320,660 0.06%
----------------- --------------- --------------- ---------------
Orrie Fenn 526,798 526,798 0.11%
----------------- --------------- --------------- ---------------
* Held by Nguvu Holdings Limited, a company of which Angela List
is a director and shareholder.
In addition to the Fee Conversion Shares, the Company has agreed
to issue, in aggregate, 100,000 new Ordinary Shares to certain
senior managers of the Company ("Senior Management Shares").
Admission and Total Voting Rights
Application will be made to the London Stock Exchange for the
Fee Conversion Shares and Senior Management Shares to be admitted
to trading on AIM ("Admission") at 8.00 a.m. on or around 18
October 2022. The Fee Conversion Shares and Senior Management
Shares will be issued as fully paid and will rank pari passu in all
respects with the existing Ordinary Shares, including the right to
receive dividends and other distributions declared on or after the
date on which they are issued.
Upon Admission, the Company's issued ordinary share capital will
consist of 496,190,047 Ordinary Shares with one voting right each.
The Company does not hold any Ordinary Shares in treasury.
Therefore, the total number of Ordinary Shares and voting rights in
the Company will be 496,190,047 . With effect from Admission, this
figure may be used by shareholders in the Company 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 FCA's
Disclosure Guidance and Transparency Rules.
Related Party Transactions
The issue of the Fee Conversion Shares to certain directors of
the Company is a related party transaction under AIM Rule 13 of the
AIM Rules for Companies. Bill Trew, the Chairman of the Company and
an independent director in respect of the Fee Conversions Shares,
considers, having consulted with the Company's Nominated Adviser,
Strand Hanson Limited, that the terms and conditions of the Fee
Conversion Share issues are fair and reasonable insofar as the
shareholders of the Company are concerned.
For further information, please contact:
GoldStone Resources Limited
Bill Trew / Emma Priestley Tel: +44 (0)1534 487 757
Strand Hanson Limited
James Dance / James Bellman Tel: +44 (0)20 7409 3494
S. P. Angel Corporate Finance
LLP
Ewan Leggat / Charlie Bouverat Tel: +44 (0)20 3470 0501
St Brides Partners Ltd Tel: +44 (0)20 7236 1177
Susie Geliher / Max Bennett
About GoldStone Resources Limited
GoldStone Resources Limited (AIM: GRL) is an AIM quoted mining
and development company with projects in Ghana that range from
grassroots exploration to production.
The Company is focused on developing the Akrokeri-Homase project
in south-western Ghana, which hosts a JORC Code compliant 602,000oz
gold resource at an average grade of 1.77 g/t. The existing
resource is confined to a 4km zone of the Homase Trend, including
Homase North, Homase Pit and Homase South.
The project hosts two former mines, the Akrokerri Ashanti Mine
Ltd, which produced 75,000 oz gold at 24 g/t recovered grade in the
early 1900s, and the Homase Pit which AngloGold Ashanti developed
in 2002/03 producing 52,000 oz gold at 2.5 g/t recovered.
Production is currently focussed on the Homase Mine however it is
the Company's intention to build a portfolio of high-quality gold
projects in Ghana, with a particular focus on the highly
prospective Ashanti Gold Belt.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 as it forms part of
United Kingdom domestic law by virtue of the European Union
(Withdrawal) Act 2018 (as amended) .
PDMR Notification Forms
Further details of the PDMR dealings are included below. This
information has been provided in accordance with Article 5(1)(b) of
the Market Abuse Regulation (EU) No 596/2014 which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018.
Details of the person discharging managerial responsibilities
1. / person closely associated
a) Name Emma Priestley
------------------------------- ------------------------------------
Reason for the Notification
2.
---------------------------------------------------------------------
a) Position/status Director of the Company
------------------------------- ------------------------------------
b) Initial notification/amendment Initial notification
------------------------------- ------------------------------------
Details of the issuer, emission allowance market participant,
3. auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Goldstone Resources Limited
------------------------------- ------------------------------------
b) LEI 213800B7ATYRPQUTS551
------------------------------- ------------------------------------
Details of the transaction(s):section to be repeated for (i)
4. each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv)each place where transactions have been
conducted
---------------------------------------------------------------------
a) Description of the Financial Ordinary shares of 1 penny each in
instrument, type of the share capital of the Goldstone
instrument Resources Limited
------------------------------- ------------------------------------
Identification code JE00BRJ8YF63
------------------------------- ------------------------------------
b) Nature of the Transaction Receipt of Ordinary Shares in lieu
of director fees
------------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.0590 2,485,112
----------
------------------------------- ------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
------------------------------- ------------------------------------
e) Date of the transaction 12 October 2022
------------------------------- ------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
------------------------------- ------------------------------------
Details of the person discharging managerial responsibilities
1. / person closely associated
a) Name Richard Wilkins
------------------------------- ------------------------------------
Reason for the Notification
2.
---------------------------------------------------------------------
a) Position/status Director of the Company
------------------------------- ------------------------------------
b) Initial notification/amendment Initial notification
------------------------------- ------------------------------------
Details of the issuer, emission allowance market participant,
3. auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Goldstone Resources Limited
------------------------------- ------------------------------------
b) LEI 213800B7ATYRPQUTS551
------------------------------- ------------------------------------
Details of the transaction(s):section to be repeated for (i)
4. each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv)each place where transactions have been
conducted
---------------------------------------------------------------------
a) Description of the Financial Ordinary shares of 1 penny each in
instrument, type of the share capital of the Goldstone
instrument Resources Limited
------------------------------- ------------------------------------
Identification code JE00BRJ8YF63
------------------------------- ------------------------------------
b) Nature of the Transaction Receipt of Ordinary Shares in lieu
of director fees
------------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.059 320,660
----------
------------------------------- ------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
------------------------------- ------------------------------------
e) Date of the transaction 12 October 2022
------------------------------- ------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
------------------------------- ------------------------------------
Details of the person discharging managerial responsibilities
1. / person closely associated
a) Name Orrie Fenn
------------------------------- ------------------------------------
Reason for the Notification
2.
---------------------------------------------------------------------
a) Position/status Director of the Company
------------------------------- ------------------------------------
b) Initial notification/amendment Initial notification
------------------------------- ------------------------------------
Details of the issuer, emission allowance market participant,
3. auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Goldstone Resources Limited
------------------------------- ------------------------------------
b) LEI 213800B7ATYRPQUTS551
------------------------------- ------------------------------------
Details of the transaction(s):section to be repeated for (i)
4. each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv)each place where transactions have been
conducted
---------------------------------------------------------------------
a) Description of the Financial Ordinary shares of 1 penny each in
instrument, type of the share capital of the Goldstone
instrument Resources Limited
------------------------------- ------------------------------------
Identification code JE00BRJ8YF63
------------------------------- ------------------------------------
b) Nature of the Transaction Receipt of Ordinary Shares in lieu
of director fees
------------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.059 526,798
----------
------------------------------- ------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
------------------------------- ------------------------------------
e) Date of the transaction 12 October 2022
------------------------------- ------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
------------------------------- ------------------------------------
Details of the person discharging managerial responsibilities
1. / person closely associated
a) Name Angela List
------------------------------- ------------------------------------
Reason for the Notification
2.
---------------------------------------------------------------------
a) Position/status Director of the Company
------------------------------- ------------------------------------
b) Initial notification/amendment Initial notification
------------------------------- ------------------------------------
Details of the issuer, emission allowance market participant,
3. auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Goldstone Resources Limited
------------------------------- ------------------------------------
b) LEI 213800B7ATYRPQUTS551
------------------------------- ------------------------------------
Details of the transaction(s):section to be repeated for (i)
4. each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv)each place where transactions have been
conducted
---------------------------------------------------------------------
a) Description of the Financial Ordinary shares of 1 penny each in
instrument, type of the share capital of the Goldstone
instrument Resources Limited
------------------------------- ------------------------------------
Identification code JE00BRJ8YF63
------------------------------- ------------------------------------
b) Nature of the Transaction Receipt of Ordinary Shares in lieu
of director fees
------------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.059 320,660
----------
------------------------------- ------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
------------------------------- ------------------------------------
e) Date of the transaction 12 October 2022
------------------------------- ------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
------------------------------- ------------------------------------
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END
DSHFFEFDEEESEFS
(END) Dow Jones Newswires
October 12, 2022 09:15 ET (13:15 GMT)
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