REG-Conroy Gold & Natural Resources Plc: Loan Conversion

Conroy Gold and Natural ResourcesAnnouncement

25/10/2022 07:15

25 October 2022

Conroy Gold and Natural Resources plc

(“Conroy Gold” or the “Company”)

LOAN CONVERSION

On 30 October 2019, the Company announced that it had raised €100,000
through the issue of an unsecured convertible loan note (the “Convertible
Loan Note”) to Hard Metal Machine Tools Limited (the “Lender”). The
Convertible Loan Note had a term of three years and attracted interest at a
rate of 5% per annum which was to be payable on the redemption or conversion
of the Convertible Loan Note. The Convertible Loan Note, including the total
amount of accrued but unpaid interest, was convertible at a conversion price
(“Conversion Price”) of £0.06. The Lender is a company controlled by Mr
Philip Hannigan, an existing shareholder in the Company.

The Company today announces that it has received notice of conversion (the
“Conversion”) from the Lender in relation to the Convertible Loan Note. At
the Conversion Price, the loan and all accrued interest (£103,475.34 as at
27(th) October 2022) is convertible into 1,724,589 new Ordinary Shares
(“Ordinary Shares”) in the Company.  

Application has been made to the London Stock Exchange for the 1,724,589 new
Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected
that Admission will become effective on, or around, 28 October 2022.

Following the Conversion, Mr Philip Hannigan is expected to have a beneficial
interest in a total of 8,588,075 Ordinary Shares in the Company representing
19.19% of the issued share capital of the Company on Admission.

Total Voting Rights

Following the Conversion, the issued share capital of the Company will
comprise 44,756,101 ordinary shares of €0.001, with one voting right per
share. The Company does not hold any shares in treasury. Therefore, the total
number of Ordinary Shares and voting rights in the Company will be 44,756,101.

Following the Conversion, the above figure may be used by shareholders in the
Company as the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change to their
interest in, the share capital of the Company under the FCA's Disclosure
Guidance and Transparency Rules.

For further information please contact:

 Conroy Gold and Natural Resources plc                                                     Tel: +353-1-479-6180               
 Professor Richard Conroy, Chairman                                                                                           
 Allenby Capital Limited (Nomad)                                                           Tel: +44-20-3328-5656              
 Nick Athanas/Nick Harriss                                                                                                    
 First Equity Limited (Broker) Jason Robertson   Lothbury Financial Services  Tel: +44-20-7330-1883    Tel: +44-20-3290-0707  
 Michael Padley                                                                                                               
 Hall Communications                                                                       Tel : +353-1-660-9377              
 Don Hall                                                                                                                     

Visit the website at: http://www.conroygoldandnaturalresources.com/



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