Goldstone Resources Ltd Directorate Change, Share Issue and PDMR dealing (6500H)

TIDMGRL

RNS Number : 6500H

Goldstone Resources Ltd

02 August 2019

2 August 2019

GOLDSTONE RESOURCES LIMITED

("GoldStone" or the "Company")

Directorate Change, Issue of Shares and PDMR dealing

GoldStone Resources Limited (AIM: GRL) announces that Richard Lloyd, a Non-executive Director of the Company, has resigned as a director with immediate effect to focus on his other business ventures. The Board would like to thank Mr Lloyd for his valued contribution and guidance, and we wish him every success in the future.

The Board is seeking to appointment another independent Non-executive Director with experience applicable to the direction of the Company and a further announcement will be made in due course.

Further to the announcement of 28 December 2018 regarding the accrual of a proportion of the Company's directors' fees, the Board has agreed to settle accrued and deferred fees of, in aggergate, GBP5,750 owed to Mr Lloyd through the issue of 342,262 ordinary shares of 1 pence each in the capital of the Company ("Ordianry Shares"), based on a share price of 1.68p, being the mid market closing price of Goldstone's Ordinary Shares on 1 August 2019, being the latest practible date prior to this announcement.

Total voting rights

Application will be made for the Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or around 8 August 2019.

Upon Admission, the Company's issued share capital will consist of 250,050,253 Ordinary Shares with one voting right each. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of Ordinary Shares and voting rights in the Company will be 250,050,253. With effect from Admission, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Following Admisison, Mr Lloyd will be interested in 1,473,038 Ordinary Shares representing 0.6% of the Company then enlarged share capital.

For further information, please contact:

 
 GoldStone Resources Limited 
 Emma Priestley                Tel: [phone] 
 
 
   Strand Hanson Limited 
 Richard Tulloch / James       Tel: [phone] 
  Bellman 
 
 
   SI Capital Limited 
 Nick Emerson                  Tel: [phone] 
 
 
   St Brides Partners Ltd 
 Susie Geliher / Juliet        Tel: [phone] 
  Earl 
 

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

PDMR Notification Forms

The notifications below are made in accordance with the requirements of MAR.

 
 1.   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                              Richard Lloyd 
     --------------------------------  ------------------------------------ 
 2.   Reason for the Notification 
     ---------------------------------------------------------------------- 
 a)   Position/status                   Non-Executive Director 
     --------------------------------  ------------------------------------ 
 b)   Initial notification/amendment    Initial Notification 
     --------------------------------  ------------------------------------ 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ---------------------------------------------------------------------- 
 a)   Name                              GoldStone Resources Limited 
     --------------------------------  ------------------------------------ 
 b)   LEI                               213800B7ATYRPQUTS551 
     --------------------------------  ------------------------------------ 
 4.   Details of the transaction(s): section to be repeated for 
       (i) each type of instrument; (ii) each type of transaction; 
       (iii) each date; and (iv)each place where transactions have 
       been conducted 
     ---------------------------------------------------------------------- 
 a)   Description of the Financial      Ordinary shares of 1 penny each 
       instrument, type of instrument 
     --------------------------------  ------------------------------------ 
      Identification code               JE00BRJ8YF63 
     --------------------------------  ------------------------------------ 
 b)   Nature of the Transaction         Issue of ordinary shares in resepct 
                                         of accrued and deferred salary 
     --------------------------------  ------------------------------------ 
 c)   Price(s) and volume(s)             Price(s)   Volume(s) 
                                          1.68       342,262 
                                                    ---------- 
     --------------------------------  ------------------------------------ 
 d)   Aggregated information            N/A (Single transaction) 
       Aggregated volume Price 
     --------------------------------  ------------------------------------ 
 e)   Date of the transaction           1 August 2019 
     --------------------------------  ------------------------------------ 
 f)   Place of the transaction          London Stock Exchange, AIM Market 
                                         (XLON) 
     --------------------------------  ------------------------------------ 
 

- ENDS-

About GoldStone Resources Limited

GoldStone Resources Limited (AIM: GRL) is an AIM quoted exploration company with projects in Ghana and Senegal that range from grassroots to advanced exploration.

The Company is focused on developing the Akrokeri- Homase project in south-western Ghana, which hosts a JORC Code compliant 602,000 oz gold resource at an average grade of 1.77 g/t. The existing resource is confined to a 4km zone of the Homase Trend, including Homase North, Homase Pit and Homase South.

The project hosts two former mines, the Akrokerri Ashanti Mine Ltd, which produced 75,000 oz gold at 24 g/t recovered grade in the early 1900s, and the Homase Pit which AngloGold Ashanti developed in 2002/03 producing 52,000 oz gold at 2.5 g/t recovered. It is the Company's intention to build a portfolio of high-quality gold projects in Ghana, with a particular focus on the highly prospective Ashanti Gold Belt.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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August 02, 2019 02:01 ET (06:01 GMT)