Substantial Shareholding Dealing

 

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:[phone] 
 
 Gerry Beaney / Robert Beenstock - Grant Thornton Corporate Finance 
Tel:[phone] 
 
 Andrew Fairclough - Arbuthnot Securities 
 
Tel: [phone] 
 
Email: [e-mail] 
 
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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