IGD Incagold

 
TIDMIGD 
 
IncaGold plc (the "Company") 
 
    Update on pre contractual heads of terms, results for the year ended 31 
 December 2009 and proposed cancellation of the Company's trading facility on 
                                      AIM 
 
On 26 April 2010, the Company requested that its ordinary shares be suspended 
from trading on AIM following a share price rise and publication of an 
admission document. The Company also announced that, in line with its 
investment strategy as set out in the circular sent to shareholders on 30 
November 2009, it had signed a pre-contractual heads of terms agreement with a 
third party. The third party's business is in the renewable energy sector and 
whilst the transaction was at a very early stage it was likely to constitute a 
reverse takeover under the AIM Rules. The announcement stated that restoration 
of trading in the Company's shares will be conditional on the publication of an 
admission document in accordance with the AIM Rules or termination of talks. 
 
The Company announces that discussions with the third party have now ceased. 
 
The Company's year end is 31 December 2009 and the Company also announces that 
it will not be in a position to publish its audited accounts by 30 June 2010 in 
line with the requirements of the AIM Rules. Therefore, in accordance with the 
AIM Rules, trading in the Company's Ordinary Shares will continue to be 
suspended from trading on AIM. 
 
Following the disposal of the Company's subsidiary on 23 December 2009, the 
Company divested substantially all of its trading business and was thereafter 
treated as an investing company under the AIM Rules. With the recent cessation 
of these negotiations, the Company now has approximately six months remaining 
to implement its investing policy or face the cancellation of trading on AIM of 
the Company's ordinary shares. The Board believes there is insufficient time to 
identify, select and conduct due diligence on any potential reverse takeover 
target that may be suitable for this type of transaction and, with this in 
mind, the Board has decided to put proposals for cancelling admission to 
trading on AIM of the Company's ordinary shares and to re register the Company 
as a private limited company to its shareholders. 
 
The Company proposes to write to shareholders later next week with details of 
the proposals and to convene a general meeting at which these proposals will be 
put to shareholders. 
 
Contact: 
 
IncaGold plc 
Justin Martin, Director 
Tel: +44(0)1624 822337 
 
Website: www.incagoldplc.com 
 
Zeus Capital Limited 
Ross Andrews 
Tel: +44(0)161 8311512 
 
Website: www.zeuscapital.co.uk 
 
 
END 
 

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