Sula Iron & Gold PLC Director's Dealing and Notifiable Interests (3807C)

TIDMSULA

RNS Number : 3807C

Sula Iron & Gold PLC

13 April 2017

13 April 2017

Sula Iron & Gold plc

("Sula" or the "Company")

Director's Dealing and Notifiable Interests

Sula (AIM: SULA), the gold exploration company focused on Sierra Leone, was yesterday notified by Madini Occidental Limited ("Occidental") that on 12 April 2017, Occidental transferred its entire holding of 304,642,410 ordinary shares of 0.1p each in the Company ("Ordinary Shares") to Galactic Tide Ltd ("Galactic"), together with the 304,642,410 warrants, which were originally issued to Occidental in November 2016 (the "Transfer"). Accordingly, Occidental and its 75% shareholder, Madini Minerals, no longer have notifiable interests in the Company's issued share capital. Ongeza Mining, a subsidiary of Madini Minerals, retains its holding of 38,168,052 Ordinary Shares and continues to provide financial and technical advice to Sula.

Following the Transfer, Galactic is interested in 304,642,410 Ordinary Shares, representing approximately 13.76% of Sula's share capital. Galactic is a privately-owned investment company incorporated in the Seychelles. Mr Mike Warren, an experienced mining professional, who is the 100% owner of Equity Drilling Limited, the Company's current drill contractor carrying out the current drill programme on the Company's Ferensola Project, has a non-controlling shareholding in Galactic. Accordingly, Mr Warren's indirect interest in Sula, through Galactic, is 152,321,205 Ordinary Shares, representing approximately 6.9% of the Company's issued share capital.

The Company has also been notified by Mr Iain Macpherson, a director of the Company, that Mr Macpherson has an indirect non-controlling shareholding in Galactic. As a result of the abovementioned Transfer, Mr Macpherson's direct and indirect shareholding in Sula is now, in aggregate, 128,743,370 Ordinary Shares, representing approximately 5.8% of the Company's issued share capital.

For further information, please visit www.sulaironandgold.com or contact:

 
 Sula Iron & Gold plc                      [phone] 
  Roger Murphy, CEO                         8304 
 Strand Hanson Limited (Financial 
  and Nominated Adviser) 
  James Harris 
  Matthew Chandler                         [phone] 
  James Dance                               3494 
 VSA Capital Limited (Financial 
  Adviser and Corporate Broker) 
  Andrew Monk 
  Andrew Raca                              [phone] 
  Justin McKeegan                           5000 
 Ongeza Mining (Financial and Technical 
  Adviser) 
  Iain Macpherson                          [phone] 
  Ilja Graulich                             0629 
 

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014 ("MAR").

The notifications set out below are provided in accordance with the requirements of MAR.

 
 Notification of a Transaction pursuant to Article 
  19(1) of Regulation (EU) No. 596/2014 
------------------------------------------------------------------------------ 
 1      Details of the person discharging managerial 
         responsibilities/person closely associated 
-----  ----------------------------------------------------------------------- 
 a.     Name                          Mr Iain Macpherson 
                                     ----------------------------------------- 
 2      Reason for 
         notification 
-----  ----------------------------  ----------------------------------------- 
 a.     Position/Status               Non-executive Director of Sula 
                                       Iron & Gold plc 
-----  ----------------------------  ----------------------------------------- 
 b.     Initial notification/         Initial Notification 
         Amendment 
-----  ----------------------------  ----------------------------------------- 
 3      Details of the issuer, emission allowance 
         market participant, auction platform, auctioneer 
         or auction monitor 
       ----------------------------------------------------------------------- 
 a.     Name                          Sula Iron & Gold plc 
-----  ----------------------------  ----------------------------------------- 
 b.     LEI                           213800VNXOUPHTX53686 
-----  ----------------------------  ----------------------------------------- 
 4      Details of the transaction(s): section to 
         be repeated for (i) each type of instrument; 
         (ii) each type of transaction; and (iii) each 
         date transactions have been conducted 
-----  ----------------------------------------------------------------------- 
 a.     Description                   Ordinary Shares of 0.1p each 
         of the financial 
         instrument, 
         type of instrument 
                                       ISIN: GB00B6Y3CV16 
         Identification 
         Code 
-----  ----------------------------  ----------------------------------------- 
 b.     Nature of the                 Transfer of shares to a company 
         transaction                   of which the PDMR is an indirect 
                                       shareholder 
-----  ----------------------------  ----------------------------------------- 
 
 c.     Price(s) and                   Price(s)             Volume(s) 
         volume(s) 
-----  ----------------------------   -------------------  ---------------- 
    GBP0.0040                                               90,473,622 
   ------------------------------------------------------  ---------------- 
 
 d.     Date of the                   2017-04-12 
         transaction 
-----  ----------------------------  ----------------------------------------- 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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April 13, 2017 02:00 ET (06:00 GMT)