13th Jan 2017 08:51
13 January 2017
Condor Gold plc
(''Condor'' or "the Company")
Holdings in Company
The Board of Condor announces that the Company has received the following TR-1 notification which is set out below. Accordingly Regent Pacific Group Limited ceases to hold any interests in the Company.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
- Ends -
For further information please visit www.condorgold.com or contact:
Condor Gold plc | Mark Child, Executive Chairman and CEO +44 (0) 20 7493 2734
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Beaumont Cornish Limited
Numis Securities Limited | Roland Cornish and James Biddle +44 (0) 20 7628 3396
John Prior and James Black+44 (0) 20 72601000
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Farm Street Media | Simon Robinson +44 (0) 7593 340107
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About Condor Gold plc:
Condor Gold plc was admitted to AIM on 31st May 2006. The Company is a gold exploration and development company with a focus on Central America.
Condor completed a Pre-Feasibility Study (PFS) and two Preliminary Economic Assessments (PEA) on La India Project in Nicaragua in December 2014. The PFS details an open pit gold mineral reserve of 6.9M tonnes at 3.0g/t gold for 675,000 oz gold producing 80,000 oz gold p.a. for 7 years. The PEA for the open pit only scenario details 100,000 oz gold production p.a. for 8 years whereas the PEA for a combination of open pit and underground details 140,000 oz gold production p.a. for 8 years. La India Project contains a total attributable mineral resource of 18.4Mt at 3.9g/t for 2.33M oz gold and 2.68M oz silver at 6.2g/t to the CIM Code.
In El Salvador, Condor has an attributable 1,004,000 oz gold equivalent at 2.6g/t JORC compliant resource. The resource calculations are compiled by independent geologists SRK Consulting (UK) Limited for Nicaragua and Ravensgate and Geosure for El Salvador.
Disclaimer
Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi |
1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii | Condor Gold plc | ||||
2 Reason for the notification (please tick the appropriate box or boxes): | |||||
An acquisition or disposal of voting rights | Yes | ||||
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached | N/A | ||||
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments | N/A | ||||
An event changing the breakdown of voting rights | N/A | ||||
Other (please specify): | N/A | ||||
3. Full name of person(s) subject to thenotification obligation: iii | Regent Pacific Group Limited | ||||
4. Full name of shareholder(s) (if different from 3.):iv | Regent Pacific Group Limited | ||||
5. Date of the transaction and date onwhich the threshold is crossed orreached: v |
1,636,998 shares in CNR were disposed of to James Mellon (a Non-Executive Director of CNR) and his associate on 12 January 2017.
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6. Date on which issuer notified: | 13 January 2017 | ||||
7. Threshold(s) that is/are crossed orreached: vi, vii | 3% | ||||
8. Notified details: | ||||||||||||||||
A: Voting rights attached to shares viii, ix | ||||||||||||||||
Class/type ofshares if possible usingthe ISIN CODE | Situation previousto the triggeringtransaction | Resulting situation after the triggering transaction | ||||||||||||||
NumberofShares | NumberofVotingRights | Numberof shares | Number of votingrights | % of voting rights x | ||||||||||||
Direct | Direct xi | Indirect xii | Direct | Indirect | ||||||||||||
Ordinary shares | 1,636,998 | 1,636,998 | Nil | Nil | Nil | Nil | Nil | |||||||||
B: Qualifying Financial Instruments | ||||||||||||||||
Resulting situation after the triggering transaction | ||||||||||||||||
Type of financialinstrument | Expirationdate xiii | Exercise/Conversion Period xiv | Number of votingrights that may beacquired if theinstrument isexercised/ converted. | % of votingrights | ||||||||||||
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi | ||||||||||||||||
Resulting situation after the triggering transaction | ||||||||||||||||
Type of financialinstrument | Exercise price | Expiration date xvii | Exercise/Conversion period xviii | Number of voting rights instrument refers to
| % of voting rights xix, xx
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Nominal | Delta | |||||||||||||||
Total (A+B+C) | ||||||||||||||||
Number of voting rights | Percentage of voting rights | |||||||||||||||
Nil | Nil | |||||||||||||||
9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi | ||
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Proxy Voting: | ||
10. Name of the proxy holder: | N/A | |
11. Number of voting rights proxy holder will ceaseto hold: | N/A | |
12. Date on which proxy holder will cease to holdvoting rights: | N/A | |
13. Additional information: | N/A | |
14. Contact name: | Stella Fung | |
15. Contact telephone number: | +852 2514 6111 | |
Related Shares:
Condor Gold