Issue of Equity

 
TIDMCDG 
 
1 September 2009 
 
                        Conroy Diamonds and Gold P.l.c. 
 
                          ("Conroy" or "the Company") 
 
            Subscription to raise EUR300,000 and debt capitalisation 
 
Conroy (AIM:CDG) is pleased to announce that, further to the subscription 
announced on 25 August 2009 (which raised EUR264,000 for the Company), it has 
raised an additional EUR300,000 by way of a subscription of 10,000,000 new 
ordinary shares at EUR0.03 each, from a new Irish investor, Mr Patrick 
O'Sullivan. In addition, Professor Richard Conroy has capitalised loans 
amounting to EUR325,000 by subscribing for 10,833,333 shares at the same price 
(together with the subscription shares set out above ("New Shares")). 
 
The Company intends to use the proceeds of the share issues primarily to fund 
the ongoing work programmes at its gold prospects in Ireland, in relation to 
which the Company has already announced the discovery of a resource of more 
than one million ounces of gold, and for working capital generally. 
 
Professor Richard Conroy, Chairman commented: 
 
"I am delighted to welcome Mr O'Sullivan as a significant investor in the 
Company. The funds we have raised in the past few days will allow us to move 
the Clontibret project through the pre-feasibility stage whilst continuing 
delineation work at Clay Lake and other prospects." 
 
Following the admission of the New Shares to trading on AIM, the Company will 
have a total of 135,721,630 shares in issue. On admission Mr O'Sullivan will 
hold 10,000,000 ordinary shares in the Company, equivalent to 7.37 per cent. of 
the issued share capital. In addition, Professor Conroy will hold 40,377,639 
ordinary shares in the Company, equivalent to 29.75 per cent. of the issued 
share capital. Professor Conroy's holding includes 19,294,286 ordinary shares 
held by Conroy P.l.c, a company in which Professor Conroy has a controlling 
interest. 
 
Under the AIM Rules, the debt capitalisation by Professor Conroy is a related 
party transaction. The independent directors of Conroy, having consulted with 
John East & Partners Limited ("JEP"), the Company's nominated adviser, consider 
the terms of the debt capitalisation to be fair and reasonable in so far as the 
Company's shareholders are concerned. In advising the independent directors, 
JEP has taken into account the commercial judgement of the independent 
directors. 
 
Application has been made to the London Stock Exchange for the Subscription 
Shares to be admitted to trading on AIM and it is expected that admission will 
become effective and trading will commence on 4 September 2009. 
 
Enquiries: 
 
Conroy Diamonds and Gold Plc 
 
Professor Richard Conroy, Chairman                              [phone] 
 
John East & Partners Limited, a subsidiary of Merchant Securities Plc (Nomad) 
 
Simon Clements/Virginia Bull                                   [phone] 
 
Lothbury Financial 
 
Ron Marshman/Michael Padley                                    [phone] 
 
 
Further details on Conroy Diamonds and Gold can be found on its website at: 
www.conroydiamondsandgold.com 
 
Conroy Share Price 
 
 
 
END