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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Norseman | LSE:NGL | London | Ordinary Share | GB00B2N7FW85 | ORD 1.25P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 2.575 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMNGL
RNS Number : 3905Y
Norseman Gold PLC
21 February 2013
ASX: NGX
AIM: NGL
21 February 2013
Norseman Gold plc
Creditors of Central Norseman Gold Corporation Ltd approved proposed Deed of Company Arrangement/Creditors' trust
The Directors of Norseman Gold plc ("Norseman" or "Company") wish to advise that creditors of Norseman's principal operating subsidiary Central Norseman Gold Corporation Limited (Administrator Appointed) ("CNGC") today voted to approve the execution of the proposed Deed of Company Arrangement ("DOCA")/Creditors' trust.
As stated in the announcement of 20 February 2012, following the execution of the DOCA, the Secured Creditors need to reach agreement as to the circumstances of existing securities and any fresh security that may be granted by directors following execution of the DOCA. It is possible that if agreement is not reached between the Secured Creditors that the Secured Creditors Deed will not be executed and the DOCA will fail.
If the DOCA is not executed within 15 business days of approval then CNGC will be wound up. Following the execution of the DOCA, settlement of DOCA is proposed to be within 20 business days of approval or such other time as agreed by the Deed Administrator. If not satisfied, the Deed Administrator to call a meeting of creditors to consider a resolution to wind up CNGC.
Should CNGC proceed to liquidation there are likely insufficient assets to result in any dividend to any unsecured creditor on an immediate winding up.
If the DOCA is completed satisfactorily then CNGC will be returned to the directors of CNGC and Norseman with no change in ownership or control and resumption of trading in the Company's ordinary shares on ASX and AIM will be sought without delay following completion of any outstanding regulatory requirements.
A further announcement will be made following the meeting of secured creditors which is planned for on or around 8 March 2013.
* * ENDS * *
For further information visit www.norsemangoldplc.com, email investors@ngold.com.au or contact:
David Steinepreis Norseman Gold Plc. Tel: +44 (0) 7913402727
William Vandyk Northland Capital Partners Ltd Tel: 020 7796 8800
Guy Wilkes Ocean Equities Ltd Tel: 020 7786 4370
Susie Geliher / Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7236 1177
This information is provided by RNS
The company news service from the London Stock Exchange
END
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