17th Jul 2009 08:39
17 July 2009
Announcement to London Stock Exchange
Issue of Shares
Solomon Gold plc ("Solomon Gold" or the "Company") today issued a total of 400,000 ordinary shares of 1 penny each in the capital of the Company (the "Shares") to a key Solomon Islands contractor as part of a remuneration package.
The Shares are subject to escrow periods which restrict the current tradeable component to 10%. Of the 90% escrowed balance, a further 10% becomes tradeable at the expiration of each of 6, 12 and 18 months from the date hereof. At the expiration of 24 months, the remaining balance of the escrowed Shares shall become tradeable.
The Company has today applied to the London Stock Exchange to seek admission of the non-escrowed Shares to AIM. It is expected, subject to such approval being granted, that the Shares will be admitted to trading no later than 8.00 a.m. on 24 July 2009.
The Company shall apply for admission of the escrowed shares to trading on AIM upon expiry of the relevant escrow periods outlined above.
The Company now has on issue 84,941,504 fully paid ordinary shares.
By order of the Board
Karl Schlobohm
Company Secretary
Contacts:
Mr Karl Schlobohm
Company Secretary
Tel: +61 7 3303 0660 or [email protected]
Mr Stephen Weir
RFC Corporate Finance
Nominated Advisor
Tel +61 2 9250 0048 or [email protected]
Related Shares:
SolGold