Grant of Warrants

13th Jul 2006 07:00

Central African Gold PLC13 July 2006 Central African Gold Plc / Ticker: CAN / Index: AIM / Sector: Mining & Exploration 13 July 2006 Central African Gold Plc ("CAG" or "the Company") Grant of Warrants Central African Gold Plc, the AIM listed gold mining and exploration company,announces that Phil Edmonds, Andrew Groves and Roy Pitchford have been granted10,000,000 listed warrants each pursuant to the terms of the bonus schemeadopted by the Company on 19 January 2004 (the "Bonus Scheme"), which providedfor the grant in the event that the mid-market price of ordinary shares in theCompany ("Ordinary Shares") reached 15p. Each warrant enables the warrant holder to subscribe for one Ordinary Share at aprice of 1p per share, at any time prior to 31 March 2011. Under the terms ofthe Bonus Scheme a further 10,000,000 warrants would be issued to each of MessrsEdmonds, Groves and Pitchford in the event that the price of an Ordinary Sharereached 25p. In the interests of the Company's capital structure and its futuredevelopment Messrs Edmonds, Groves and Pitchford have agreed to waive theirentitlement to any future warrants and the scheme has been cancelled. Application has been made to the London Stock Exchange plc for theaforementioned warrants to be admitted to trading on AIM with admission expectedon 17 July 2006. Following this grant of warrants, Messrs Edmonds, Groves and Pitchford'sinterest in the issued share capital of the Company will be as follows: Number of ordinary shares held Number of listed Percentage of listed warrants held warrants heldPhil Edmonds 19,000,000 15,000,000 25%Andrew Groves 13,700,000 15,000,000 25%Roy Pitchford 15,000,000 10,000,000 16.67% The total number of Ordinary Shares in issue is 265 751 023. * * ENDS * * Greg Hunter Central African Gold Tel: +27 82 882 4222Hugo de Salis St Brides Media & Finance Ltd Tel: +44 (0)20 7242 4477Simon Raggett Strand Partners Limited Tel: +44 (0)20 7409 3494 This information is provided by RNS The company news service from the London Stock Exchange

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