Investors & Media
Company releases
Regulatory Announcement - Exercise of Warrants
08 August 2006
Shanta Gold Limited ("Shanta Gold" or the "Company") confirms that on 7 August 2006 the directors of the Company approved an allotment of shares following the exercise of warrants over ordinary shares of 0.01p in the share capital of the Company (the "Warrants") as set out below:
| Registered Holder | Number of Warrants | Subscription Price | No. Of shares | Exercise Price |
|---|---|---|---|---|
| Export Holdings Limited | 5,000,000 | 30p | 5,000,000 | £1,500,000.00 |
| Sable Gold (Mauritius) Limited | 5,000,000 | 30p | 5,000,000 | £1,500,000.00 |
| Coronation Capital Limited Consortium | 5,000,000 | 30p | 5,000,000 | £1,500,000.00 |
| Minco Investment Holdings Limited | 5,000,000 | 30p | 5,000,000 | £1,500,000.00 |
Application will be made for the ordinary shares created pursuant to the exercise of the Warrants (the "New Ordinary Shares") to be admitted to AIM and dealings in the New Ordinary Shares is expected to commence on 14 August 2006.
The total number of issued ordinary shares in the Company, including the New Ordinary Shares, is now 89,808,772 ordinary shares.
Following the exercise of the warrants the following will be the holdings and significant interests of the parties:
| Shares | Warrants | |||
|---|---|---|---|---|
| Number | % | Number | % | |
| Export Holdings Limited | 25,812,500 | 28.74 | 8,312,500 | 23.97 |
| Sable Gold (Mauritius) Limited | 25,812,500 | 28.74 | 8,312,500 | 23.97 |
| Coronation Capital Limited | 5,000,000 | 5.57 | 2,500,000 | 7.21 |
| Minco Investment Holdings Limited | 5,000,000 | 5.57 | 2,500,000 | 7.21 |
No other member of the consortium becomes a significant shareholder as a consequence of the transaction
Following this transaction the beneficial interests of directors through the promoter shareholders’ holdings will be as follows:
| Shares | Warrants | |||
|---|---|---|---|---|
| Number | % | Number | % | |
| Walton Imrie | 7,532,089 | 8.39 | 2,425,586 | 6.99 |
| Ketan Patel | 12,906,250 | 14.37 | 4,156,250 | 11.98 |
| Mahesh Patel | 12,906,250 | 14.37 | 4,156,250 | 11.98 |
The subscription monies of £6,000,000 (approximately US$11,450,000)have been added to net cash, which, as at 30 June 2006, stood at approximately US$6,810,000.
For further information:
Shanta Gold
Walter Vorwerk:
Tel: +27 83 308 0080
W.H. Ireland
David Youngman
Tel: +44 (0) 161 832 6644