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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 |
TIDMNGL
RNS Number : 1933S
Norseman Gold PLC
16 November 2011
Norseman Gold plc / Epic: NGL / Index: AIM & ASX / Sector: Mining & Exploration
16 November 2011
Norseman Gold Plc ('Norseman Gold' or 'the Company')
Information for Shareholders regarding the
Annual General Meeting scheduled to be held on 9 December 2011
The Company refers to the Notice of Annual General Meeting that was recently sent to Shareholders and lodged on the ASX on 10 November 2011.
Resolutions 10, 11 and 12 in the Notice seek Shareholder approval to issue Shares on conversion of the Convertible Loan Notes issued by the Company on 26 October 2011 ("Conversion Shares"). The Explanatory Statement in respect of these Resolutions noted that the Company would seek a waiver from the ASX Listing Rules to allow the Company to issue the Conversion Shares at any time before the Maturity Date of the Notes (25 October 2013).
ASX has advised that if Shareholders pass Resolutions 10, 11 and 12 and approval is given for the Company to issue the Conversion Shares on conversion of the Notes, then a waiver is not required. On receiving Shareholder approval, the Convertible Loan Notes will be equity securities that are issued under Listing Rule 7.1 (in relation to those Notes held by unrelated parties) and Listing Rule 10.11 (in relation to those Notes held by related parties). As a consequence, the Company will then be able to issue Conversion Shares on conversion of the Notes without any further approval by reason of the exceptions in Listing Rule 7.2 exception 4 and Listing Rule 10.12 exception 7.
For the purposes of the Notice of Meeting, Shareholders should note that if Resolutions 10, 11 and 12 are passed then the Company will issue Conversion Shares on receipt of a conversion notice by a Note holder in accordance with the terms of the Notes. A conversion notice may be given at any time before the Maturity Date of the Notes. Therefore, the Conversion Shares may be issued on any date on or before 25 October 2013.
Kelvin May
Company Secretary
**ENDS**
For further information visit www.norsemangoldplc.com or contact:
Barry Cahill Norseman Gold Plc Tel: +618 9473 2200 Guy Wilkes Ocean Equities Ltd Tel: 020 7786 4370 William Vandyk Northland Capital Partners Tel: 020 7796 8800 / Rod Venables Ltd Susie Geliher St Brides Media & Finance Tel: 020 7236 1177 Ltd E-mail investors@ngold.com.au
Note to editors:
Norseman Gold plc is an AIM listed and ASX listed Australian gold production company, which acquired the Norseman Gold Project in May 2007, Australia's longest continually running gold operation. The Norseman Gold Project is located in the Eastern Goldfields of Western Australia in the highly prospective Norseman-Wiluna greenstone belt, 725km east of Perth and 186km from Kalgoorlie.
Gold was first found on the Norseman field in 1894 and over the last 65 years, it has produced over 5.5 million ounces of gold. The mine is currently producing from three high-grade narrow-vein underground mines - the Bullen, the Harlequin and the OK Declines and developing the North Royal Open Pit. Currently, it has a total resource inventory of 3.4 million ounces of gold at an average grade of 4.7 g/t.
The tenements cover a 2,360 sq km area centred on the Norseman Township. The landholding comprises 221 tenements consisting of 85 Exploration Licences, 108 Mining Licences, 3 Prospecting Licences, 15 Miscellaneous Licences, 5 Exploration Licence Applications, 3 Prospecting Licence Applications and 1 Mining Lease Application.
The Company's strategy is focused on extending the mine life through the conversion of resources into reserves and identifying additional resources and obtaining additional ore for the operating mill through the development of additional mines. The Company has fifteen advanced resource projects under review of which three have pre-development work being undertaken on them. It is anticipated that at least one, if not all the pre-development projects will develop into mining propositions.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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