Shanta Gold Limited Confirmation of buyback $5m convertible loan notes (8052V)
April 10 2019 - 8:28AM
UK Regulatory
TIDMSHG
RNS Number : 8052V
Shanta Gold Limited
10 April 2019
10 April 2019
Shanta Gold Limited
("Shanta" or "Company")
Confirmation of buyback of US$5 million convertible loan
notes
Shanta Gold Limited (AIM: SHG), the East Africa-focused gold
producer, developer and explorer, is pleased to announce that
following the passing of written resolutions by the holders of the
Company's outstanding unsecured subordinated convertible loan notes
due April 2020 ("Notes") referenced in the announcement on 27 June
2018 ("Written Resolutions"), the Company is proceeding with the
buyback of approximately 33.33% of the Notes currently held by
third parties (US$4.89 million of the Notes) in accordance with the
scheme set out in the Written Resolutions ("Scheme"). Purchases
will be made from all third-party holders of the Notes, pro-rata to
their current holdings. Those US$9.78 million of Notes that will
remain outstanding with third parties are redeemable on 10 April
2020.
The record date for the Scheme in accordance with the Written
Resolutions is 13 May 2019 and the expected payment date is 17 May
2019.
Enquiries:
Shanta Gold Limited
+ 255 (0) 22 292
Eric Zurrin (CEO) 5148
Luke Leslie (CFO)
Nominated Adviser and Broker
Numis Securities Limited
+ 44 (0) 20 7260
Paul Gillam / John Prior / James Black 0000
Financial Public Relations
Tavistock
+ 44 (0) 20 7920
Charles Vivian / Barnaby Hayward 3150
About Shanta Gold
Shanta Gold is an East Africa-focused gold producer, developer
and explorer. It currently has defined ore resources on the New
Luika project in Tanzania and holds exploration licenses covering
approximately 1,500km(2) in the country. Shanta's flagship New
Luika Gold Mine commenced production in 2012 and produced 81,872
ounces in 2018. The Company has been admitted to trading on
London's AIM and has approximately 787 m shares in issue. For
further information please visit: www.shantagold.com.
This announcement contains inside information for the purposes
of Article 7 of Regulation 596/2014.
ENDS
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END
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