10th Jun 2015 17:00
Stratex International Plc
('Stratex' or the 'Company')
Holding(s) in Company
Stratex International Plc, the AIM-quoted exploration and development company focused on gold and base metal in Turkey, East Africa and West Africa, has received notification from G.P. (Jersey) Limited, that it has purchased 15,100,000 ordinary shares in the Company, representing 3.2% of the issued share capital.
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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 | STRATEX INTERNATIONAL PLC | |||
2 Reason for the notification (please tick the appropriate box or boxes): | ||||
An acquisition or disposal of voting rights | X | |||
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached | ||||
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments | ||||
An event changing the breakdown of voting rights | ||||
Other (please specify): | ||||
3. Full name of person(s) subject to thenotification obligation: iii | Forest Nominees Limited (GC1) | |||
4. Full name of shareholder(s) (if different from 3.):iv | Forest Nominees Limited (GC1) is nominee holder for G.P. (Jersey) Limited | |||
5. Date of the transaction and date onwhich the threshold is crossed orreached: v | June 10, 2015 | |||
6. Date on which issuer notified: | June 10, 2015 | |||
7. Threshold(s) that is/are crossed orreached: vi, vii | 3% (THREE PERCENT) | |||
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 | ||||||||||||
COMMON | 0 | 0 | 15,100,000 | 15,100,000 | 0 | 3.2 | 0 | |||||||||
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 | |||||||||||||||
15,100,000 | 3.2% | |||||||||||||||
9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi | |
Forest Nominees Limited (GC1) is nominee holder for G.P. (Jersey) Limited | |
Proxy Voting: | |
10. Name of the proxy holder: | Forest Nominees Limited (GC1) |
11. Number of voting rights proxy holder will ceaseto hold: | |
12. Date on which proxy holder will cease to holdvoting rights: | |
13. Additional information: | |
14. Contact name: | Justin Jouan |
15. Contact telephone number: | 01534 280068 |
* * ENDS * *
For further information please visit www.stratexinternational.com, email [email protected], or contact:
Stratex International Plc | Tel: +44 (0)20 7830 9650 |
Bob Foster / Christopher Hall / Claire Bay
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Grant Thornton UK LLP | Tel: +44 (0)20 7383 5100 |
Philip Secrett / Melanie Frean / Jen Clarke
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Northland Capital Partners Limited | Tel: +44 (0)20 7382 1100 |
Gerry Beaney / David Hignell Abigail Wayne /John Howes (Broking)
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SP Angel Corporate Finance LLP | Tel: +44 (0)20 3470 0500 |
Ewan Leggat / Tercel Moore
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Yellow Jersey PR Limited | Tel: +44 (0)7747 788 221 |
Anna Legge / Dominic Barretto | |
Notes to Editors:
Focused on the exploration and development of gold and high-value base metals, Stratex International is active in Turkey and Senegal and has strategic interests in East Africa and Ghana. Since listing on AIM in 2006, Stratex has had an impressive track record of successful exploration supported by joint-venture partnerships, both with major international mining companies and local companies to maximise the potential of its discoveries.
To date Stratex has discovered more than 2.2 million ounces of gold and 7.9 million ounces of silver, as well as 186,000 tonnes of copper. The Company is looking to completion of construction of its 45%-owned Altıntepe gold project in Turkey in 2015 and anticipates gold production before year-end. Additionally a 1% production royalty capped at US$20 million will be due from the Öksüt project, also in Turkey, with first production provisionally targeted for late-2016 by owners Centerra Gold. With its current cash position and projected cash returns, the Company is well-placed to advance its existing exploration programmes and is also actively seeking to acquire advanced projects that are at the drill-ready stage or even have identified resources.
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