Substantial Shareholding Dealing
May 18 2010 - 6:35AM
UK Regulatory
TIDMGPN
RNS Number : 1201M
Gladstone Pacific Nickel Limited
18 May 2010
18 May 2010
GLADSTONE PACIFIC NICKEL LIMITED
SUBSTANTIAL SHAREHOLDER DEALING
Gladstone Pacific Nickel Limited ("the "Company") announces that it was notified
today (18 May 2010) that Mr Clive Palmer, sold 28,645,233 ordinary shares to QNI
Resources Pty Ltd ("QNI") for total consideration of $9,091,902.26 on 10 April
2010. At the same time, Mineralogy Pty Ltd sold 6,850,000 ordinary shares to QNI
for total consideration of $3,309,559.Mineralogy Pty Ltd is a wholly owned
entity of Mr Clive Palmer.
QNI is a private Australian company and is ultimately owned by Mr Clive Palmer.
Following the above transaction, Mr Palmer's beneficial interest in the Company
is as set out below:
+----------+------------+----------------+--------------+
| Name | Options | Ordinary | % interest |
| | held | shares held | in issued |
| | | | share |
| | | | capital |
+----------+------------+----------------+--------------+
| Clive | Nil | 35,495,233 | 50.04% |
| Palmer | | | |
+----------+------------+----------------+--------------+
*Mr Palmer's interest in ordinary shares comprises 35,495,233 ordinary shares
held by QNI, which is ultimately owned by Mr Palmer.
ENDS
For more information or comment
Julien McInally - Gladstone Pacific Nickel Ltd
Tel:+61 7 3231 7100
Gerry Beaney / Robert Beenstock - Grant Thornton Corporate Finance
Tel:+44 20 7383 5100
Andrew Fairclough - Arbuthnot Securities
Tel: +44 20 7012 2000
Email: info@gladstonepacific.com.au
Gladstone Pacific Nickel Limited is an Australian mining development company
presently undertaking an Integrated Definitive Feasibility Study for the
Gladstone Nickel Project. The Company's vision is to build a major long-life
nickel cobalt refinery at the deepwater Port of Gladstone, in Central
Queensland, Australia, treating abundant high grade nickel laterite ores from
New Caledonia and other south-west Pacific islands, underpinned by beneficiated
ores from its own Marlborough deposits. The Project has the potential to be one
of the largest of its type in the world producing some 126,000 tpa nickel (8 -
10% of global nickel demand) and 10,400 tpa of cobalt metal from its first two
stages.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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