14th Oct 2013 11:41
LONDON (Alliance News) - Premier Gold Resources PLC announced Monday that two directors will receive their directors' fees in shares in lieu of cash.
Under the agreement, Christian Schaffalitzky will receive 13,986,014 shares issued in lieu of cash, resulting in a 23,152,681 total shareholding, and Gerald Desler will receive 3,496,503 shares, resulting in a 8,984,672 total shareholding.
Schaffalitzky now holds 2.05% of the enlarged issued share capital and Desler holds 0.80%.
Application will be made to the London Stock Exchange for 17,482,517 Ordinary Shares admitted to trading on AIM and is expected to become effective on 17 October 2013. Total number of Ordinary Shares in issue will be 1,126,435,975.
Premier Gold Resources shares were up 3.33% at 0.140 pence per share Monday morning.
By Arvind Bhunjun
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