REG - Richland Resources - Issue of shares for Capricorn Sapphire Project <Origin Href="QuoteRef">CBRO.L</Origin> <Origin Href="QuoteRef">RLDR.L</Origin>

Close BrothersAnnouncement

29/10/2014 13:38

RNS Number : 2913S
Richland Resources Ltd
23 September 2014
23 September 2014
Richland Resources Ltd
("Richland" or "the Company") (AIM: RLD)
Issue of 18 million shares re Capricorn Sapphire Project
Further to its announcement on 4th June 2014 Richland Resources Ltd today announces that it has issued 18 million fully paid new common shares (the "18 Million Shares") in the Company pursuant to the acquisition of 100 per cent of the Nardoo Sapphire project in Queensland Australia subsequently re-branded as Capricorn Sapphire ("Capricorn Sapphire"). 
The Capricorn Sapphire project was acquired by Richland for consideration of AUD$1.18 million (approximately. GBP 653,000 as at 4th June 2014) and 18 million fully paid new common shares in Richland (approximately 8.3% of Richland's enlarged share capital). The 18 Million Shares were the subject of a three month escrow period and are now being issued at the expiry of the escrow period to the vendors with each holding being below 3% of the enlarged share capital of the Company. Application will made to the London Stock Exchange for the 18 Million Shares to be admitted to trading on AIM. It is expected that such Admission will become effective and that dealings will commence at 8.00 a.m. on 26 September 2014.
Following the issue of the 18 Million Shares, the Company's issued share capital will consist of 217,209,895 Common Shares.
Following the issue of the 18 Million Shares, the Directors of the Company hold the following reduced percentage interests in the issued share capital of the Company: 
Name
Number of Ordinary Shares 

Percentage prior to issue of 18 Million Shares

Percentage of enlarged 
Share Capital
Nicholas Sibley
14,311,788 

7.2%

6.6%
Ed Nealon 
10,678,539

5.4%

4.9%
Ami Mpungwe
6,244,686 

3.1%

2.9%
Bernard Olivier 
2,374,422

1.2%

1.1%
End
For more information please contact:
Bernard Olivier 
Chief Executive Officer 
+61 4089 48182 
Edward Nealon
Chairman
+61(0) 409 969 955
Mike Allardice
Group Company secretary
+852 91 864 854
Nominated Advisor & Broker 
RFC Ambrian Limited 
Samantha Harrison
+44 (0) 20 3440 6800 
Laurence Read
Corporate Development and Communications Officer
+44 (0)20 3289 9923

http://www.richlandresourcesltd.com

This information is provided by RNS
The company news service from the London Stock Exchange
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