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Conversion of debt and Total Voting Rights

3rd Feb 2012 12:33

RNS Number : 7805W
Trans-Siberian Gold PLC
03 February 2012
 



 

 

Trans-Siberian Gold plc

 

 Equity conversion of US$1.6 million existing debt

 

Total Voting Rights

 

LONDON: 3 February 2012 - Trans-Siberian Gold plc ("TSG" or "the Company") (TSG.L) reported on 1 February 2012 that US$4.8 million of its existing US$8.2 million total indebtedness to UFG Asset Management ("UFG") and AngloGold Ashanti Limited ("AGA") had been converted into new ordinary shares of 10p each in the Company ("Shares").

 

TSG is pleased to announce that an additional US$1.6 million of that indebtedness, comprising US$1.0 million (out of the remaining US$2.0 million) owed to UFG and US$0.6 million (out of the remaining US$1.4 million) owed to AGA, has now been converted into new Shares.

 

The US$1.6 million indebtedness has been converted at 69.98 pence per share in the case of the UFG indebtedness and 69.75 pence per share in the case of the AGA indebtedness (the "Conversion"). The Conversion has resulted in the issue of 1,455,619 new Shares, which are expected to be admitted to trading on AIM on 6 February 2012.

 

Following the Conversion, the total number of Shares in issue will be 110,053,073. There are no shares held in treasury. The total number of voting rights in the Company will therefore be 110,053,073.

 

The above figure of 110,053,073 may be used by shareholders 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 Company, under the Disclosure and Transparency Rules.

 

The Company has been informed of the following shareholdings in the Company following the Conversion:

 

Name

Number

Percentage

UFG

60,988,112

55.42%

AGA

34,305,282

31.17%

 

The aggregate balances of the UFG and AGA loan facilities have reduced to US$1.0 million and US$0.8 million respectively following the Conversion described above.

 

 

- Ends -

 

 

Contacts

 

TSG

 

Simon Olsen

+ 44 (0) 7770 484965

 

 

Seymour Pierce Ltd

+44 (0) 207 107 8000

Stewart Dickson / David Foreman (Corporate Finance)

 

Jeremy Stephenson (Corporate Broking)

 

 

 

 

 

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

Related Shares:

TSG.L
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