20th Apr 2009 11:15
Central African Gold Plc / Ticker: CAN / Market: AIM / Sub-sector: Gold Mining
20 April 2009
Central African Gold plc ("CAG" or the "Company")
Result of Extraordinary General Meeting ("EGM")
Central African Gold Plc, the AIM quoted gold mining and exploration company, is pleased to announce that, at the EGM held earlier today, all resolutions were duly passed. Accordingly, the placing of 565,970,992 ordinary shares of 0.5 pence each (the "Placing Shares"), at 1.00 penny per share to raise approximately £5.7 million before expenses, and the issue, following the partial conversion of convertible loan agreements, of a total of 267,264,079 ordinary shares of 0.5 pence each (the "Conversion Shares") at 0.9 pence per share to ECP Africa Fund II PCC and Investec Asset Management (Proprietary) Limited (together, the "New Ordinary Shares") have become unconditional.
The New Ordinary Shares will rank pari passu in all respects with the existing ordinary shares of the Company. Application has been made for the New Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective and dealings in the New Ordinary Shares will commence at 8 a.m. on 22 April 2009.
Following Admission, the Company will have 1,004,085,968 ordinary shares in issue.
CAG's Chairman Roy Lander said, "We are pleased to announce the completion of the placing, the funds from which will ensure that CAG can meet its financial obligations to Investec Bank Limited. The placing will also, together with the funds anticipated to be received from the proposed disposal of our Malian gold exploration assets, provide the working capital necessary for the Company to enhance the value of our remaining gold assets in Zimbabwe and Botswana."
For further information please visit www.centralafricangold.com or contact:
|
Roy Pitchford / Craig Campbell |
Central African Gold Plc |
Tel: +44(0)77 9390 9985 Tel: +27(0)11 676 2500 |
|
Stuart Faulkner/ James Spinney |
Strand Partners Limited |
Tel: +44(0)20 7409 3494 |
|
Hugo de Salis / Felicity Edwards |
St Brides Media and Finance Ltd |
Tel: +44(0)20 7236 1177 |
Notes to Editors
Central African Gold Plc is an established gold mining company with a portfolio of production and exploration assets in Africa. The Company has two subsidiaries in Zimbabwe: Falcon Gold Zimbabwe Limited (84.7 per cent. owned) and Olympus Gold Mines Limited (100 per cent. owned); three joint ventures in Mali covering 17 prospective permits spanning approximately 2,600km² of the Birimian strata; and a licence in Botswana covering the extension of the Kraaipan greenstone belt from South Africa.
Related Shares:
Canal+