1st Aug 2007 07:01
Central African Gold PLC01 August 2007 Central African Gold Plc / Ticker: CAN / Market: AIM / Sub-sector: Gold Mining 1 August 2007 Central African Gold plc ("CAG" or "the Company") Change in Directors' Interests The Company confirms that on 31 July 2007 it issued 2,700,054 new ordinaryshares of 0.5p each, subject to admission to trading on AIM, pursuant to theexercise of options held by Greg Hunter (Chief Executive) and Mark Rosslee(Chief Financial Officer), both of whom are directors of the Company, and anumber of other senior managers. The options exercised by Messrs Hunter and Rosslee were all granted on theirrespective appointments to the Company on 8 March 2006 as part of theirremuneration packages agreed at the time, and converted on a one for one basisinto ordinary shares of 0.1p each in the Company at a strike price of 3.75p pershare based on the then average of the prevailing six months closing mid-marketprice at the time. However, following the one for five share consolidationapproved by shareholders at the annual general meeting on 15 June 2007 the termsof such options were adjusted accordingly so that for every five options heldthe holder would be entitled to subscribe for one ordinary share of 0.5p each inthe Company, at a strike price of 18.75p per share. Consequently, such optionscan only be exercised in multiples of five. In accordance with the FSA's Disclosure and Transparency Rules, the Companywould like to notify the market that the aforementioned directors' interests inthe issued share capital of the Company are as follows: Number of ordinary shares % of issued ordinary shares capital Greg Hunter 800,000 0.8%Mark Rosslee 500,000 0.5% 1,300,000 1.3% Application has been made for the new ordinary shares to be admitted to tradingon AIM, which is expected to become effective on 3 August 2007. The new ordinary shares will, on admission to trading on AIM, be credited asfully paid and rank pari passu in all respects with the existing issued ordinaryshares. The total number of issued ordinary shares in the Company, including the newordinary shares, is now 96,903,953 ordinary shares. This figure may be used byshareholders as the denominator for the calculations by which they willdetermine if they are required to notify their interest in, or a change to theirinterest in, CAG, under the Disclosure and Transparency Rules. * * ENDS * * For further information please contact or visit www.centralafricangold.com orcontact: Central African Gold PlcGreg Hunter Tel: +27 (0) 82 882 4222 In London:St Brides Media & Finance LtdHugo de Salis/ Felicity Edwards Tel: +44 (0) 20 7242 4477 Strand Partners LimitedSimon Raggett /Braden Saunders Tel: +44 (0) 20 7409 3494 In South Africa:Central African GoldNicole Broome Tel: +27 (0) 11 676 2500 Mob: +27 (0) 83 601 1702 Russell and AssociatesCharmane Russell Tel: + 27 (0) 11 880 3924 Mob: + 27 (0) 82 372 5816 Notes to Editors: Central African Gold Plc, admitted to AIM in April 2004, was established toacquire gold assets with a geographical focus on Africa. The Company hasestablished a sound portfolio with projects in Ghana, Mali, Zimbabwe andBotswana. It has a highly experienced management team, which has worked togetherfor four years managing six underground greenstone gold mining operations andbuilding exploration portfolios. CAG's portfolio includes the producing Bibiani gold mine and prospectinglicences in Ghana, which it acquired from AngloGold Ashanti Ltd, two jointventures in Mali covering 23 prospective permits and licences in Botswanacovering the extension of the Kraaipan greenstone belt from South Africa. CAGrecently acquired five mines and extensive exploration properties in Zimbabwe.The directors are evaluating additional prospects in Africa to establish CAG asa leading mid-tier African gold producer with world class exploration andproduction assets. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Canal+