Holding(s) in Company

Regent Pacific

13/01/2017 08:51

RNS Number : 1242U

Condor Gold PLC

13 January 2017

13 January 2017

Condor Gold plc

(''Condor'' or "the Company")

Holdings in Company

The Board of Condor announces that the Company has received the following TR-1 notification which is set out below. Accordingly Regent Pacific Group Limited ceases to hold any interests in the Company.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

- Ends -

For further information please visit www.condorgold.com or contact:

Condor Gold plc
Mark Child, Executive Chairman and CEO
+44 (0) 20 7493 2734
Beaumont Cornish Limited
Numis Securities Limited
Roland Cornish and James Biddle
+44 (0) 20 7628 3396
John Prior and James Black
+44 (0) 20 72601000
Farm Street Media
Simon Robinson
+44 (0) 7593 340107

About Condor Gold plc:

Condor Gold plc was admitted to AIM on 31st May 2006. The Company is a gold exploration and development company with a focus on Central America.

Condor completed a Pre-Feasibility Study (PFS) and two Preliminary Economic Assessments (PEA) on La India Project in Nicaragua in December 2014. The PFS details an open pit gold mineral reserve of 6.9M tonnes at 3.0g/t gold for 675,000 oz gold producing 80,000 oz gold p.a. for 7 years. The PEA for the open pit only scenario details 100,000 oz gold production p.a. for 8 years whereas the PEA for a combination of open pit and underground details 140,000 oz gold production p.a. for 8 years. La India Project contains a total attributable mineral resource of 18.4Mt at 3.9g/t for 2.33M oz gold and 2.68M oz silver at 6.2g/t to the CIM Code.

In El Salvador, Condor has an attributable 1,004,000 oz gold equivalent at 2.6g/t JORC compliant resource. The resource calculations are compiled by independent geologists SRK Consulting (UK) Limited for Nicaragua and Ravensgate and Geosure for El Salvador.

Disclaimer

Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are
attached:ii
Condor Gold plc
2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights
Yes
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
N/A
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
N/A
An event changing the breakdown of voting rights
N/A
Other (please specify):
N/A
3. Full name of person(s) subject to the
notification obligation:iii
Regent Pacific Group Limited
4. Full name of shareholder(s)(if different from 3.):iv
Regent Pacific Group Limited
5. Date of the transaction and date on
which the threshold is crossed or
reached:v
1,636,998 shares in CNR were disposed of to James Mellon (a Non-Executive Director of CNR) and his associate on 12 January 2017.
6. Date on which issuer notified:
13 January 2017
7. Threshold(s) that is/are crossed or
reached: vi, vii
3%


8. Notified details:
A: Voting rights attached to sharesviii, ix
Class/type of
shares
if possible using
the ISIN CODE
Situation previous
to the triggering
transaction
Resulting situation after the triggering transaction
Number
of
Shares
Number
of
Voting
Rights
Number
of shares
Number of voting
rights
% of voting rights x
Direct
Direct xi
Indirect xii
Direct
Indirect
Ordinary shares
1,636,998
1,636,998
Nil
Nil
Nil
Nil
Nil
B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial
instrument
Expiration
date xiii
Exercise/
Conversion Period xiv
Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.
% of voting
rights
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi
Resulting situation after the triggering transaction
Type of financial
instrument
Exercise price
Expiration date xvii
Exercise/
Conversion period xviii
Number of voting rights instrument refers to
% of voting rights xix, xx
Nominal
Delta
Total (A+B+C)
Number of voting rights
Percentage of voting rights
Nil
Nil


9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable: xxi
Proxy Voting:
10. Name of the proxy holder:
N/A
11. Number of voting rights proxy holder will cease
to hold:
N/A
12. Date on which proxy holder will cease to hold
voting rights:
N/A

13. Additional information:

N/A
14. Contact name:
Stella Fung
15. Contact telephone number:
+852 2514 6111


This information is provided by RNS

The company news service from the London Stock Exchange

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