Issue of Equity (8302B)

TIDMPNG

RNS Number : 8302B

Persian Gold PLC

25 February 2011

25 February 2011

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

Issue of Equity

The Directors of Persian Gold and certain senior management of the company have exercised the following options and warrants:

 
                     Options at 0.25p     Options at 2.5p    Warrants at 4.0p 
                      per new ordinary    per new ordinary    per new ordinary 
                           share               share               share 
------------------  ------------------  ------------------  ------------------ 
 John James 
  Teeling                1,600,000            300,000             937,500 
------------------  ------------------  ------------------  ------------------ 
 James Michael 
  Finn                   1,000,000            300,000             625,000 
------------------  ------------------  ------------------  ------------------ 
 David John Horgan        700,000             200,000             625,000 
------------------  ------------------  ------------------  ------------------ 
 Jack Robert 
  Teeling                1,000,000            300,000             312,500 
------------------  ------------------  ------------------  ------------------ 
 Dr. Manouchehr 
  Takin                      -                   -                150,000 
------------------  ------------------  ------------------  ------------------ 
 Senior Management        60,000              60,000               9,363 
------------------  ------------------  ------------------  ------------------ 
 

Persian Gold has issued and allotted 8,179,363 new ordinary shares pursuant to the exercise of options and warrants as set out in the table above.

Application to the London Stock Exchange has been made for these new Ordinary Shares to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective on 2 March 2011.

The new Ordinary Shares will rank pari passu with the existing Ordinary Shares of the Company.

Following the issue of these shares the Company has 85,807,198 fully paid ordinary shares in issue and the Directors will have the following holdings in the Company:

 
                         Number of Ordinary    Percentage of issued 
                               Shares          Ordinary Share Capital 
----------------------  -------------------  ------------------------ 
 John James Teeling*         14,512,900               16.91% 
----------------------  -------------------  ------------------------ 
 James Michael Finn          7,875,400                 9.18% 
----------------------  -------------------  ------------------------ 
 David John Horgan**         6,975,000                 8.13% 
----------------------  -------------------  ------------------------ 
 Jack Robert Teeling         6,337,500                 7.39% 
----------------------  -------------------  ------------------------ 
 Dr. Manouchehr Takin         450,000                  0.52% 
----------------------  -------------------  ------------------------ 
 

* 9,600,000 Ordinary Shares registered in the name of Davy Crest Nominees are beneficially owned by John Teeling.

** 2,000,000 Ordinary Shares are registered in the name of Alana Horgan, the daughter of David Horgan and 1,525,000 Shares are registered in the name of Aran Horgan, the son of David Horgan.

Enquiries:

 
 Persian Gold plc 
  John Teeling, Chairman 
  David Horgan, Managing Director 
  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

IOEUSUNRARAUUAR