Director/PDMR Shareholding (6759A)

TIDMPNG

RNS Number : 6759A

Persian Gold PLC

04 February 2011

4 February 2011

Persian Gold plc ("Persian Gold" or the "Company")

Issue of warrants

On 2 December 2008, certain Directors and senior management of the Company were issued 2,659,363 warrants which were issued to investors participating in a placing of new Ordinary Shares by the Company (on the basis of one warrant for every two new Ordinary Shares subscribed for ("Warrants"). The Warrants carried an exercise price of 4p per Ordinary Share with an exercise period of two years from the date of issue of the Warrants. The 2,659,363 Warrants held by the Directors and senior management lapsed on 2 December 2010.

The Company announces that it has now issued 2,659,363 new warrants each to subscribe for one new Ordinary Share at a price of 4p per share to certain Directors and senior management ("New Warrants"). The exercise period for these New Warrants is one month from the date of issue. It is expected that the New Warrants will be exercised prior to completion of the acquisition of Hydrocarbon Exploration plc (as announced earlier today). The New Warrants issued to Directors have been issued as follows:

 
 Director                New Warrants 
 David Horgan            625,000 
 James Finn              625,000 
 John Teeling            937,500 
 Dr. Manouchehr Takin    150,000 
 Jack Teeling            312,500 
 

Enquiries:

 
 Persian Gold plc 
  John Teeling, Chairman               [phone] 
  James Finn, Finance Director          [phone] 
 Nominated Adviser and Joint Broker 
  Shore Capital 
 Pascal Keane 
  Toby Gibbs                           [phone] 
 Joint Broker 
  Optiva Securities Limited 
  Jeremy King                          [phone] 
 College Hill 
  Nick Elwes                           [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

RDSDKNDQCBKDCBK