Sch 1 - Persian Gold plc (4852D)

TIDMZZZZ TIDMPNG

RNS Number : 4852D

AIM

23 March 2011

 
        ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION 
         IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM 
                                    RULES") 
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 COMPANY NAME: 
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 Persian Gold plc (to be renamed Clontarf Energy plc ( "Clontarf" 
  or the "Company")) 
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 COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY 
  TRADING ADDRESS (INCLUDING POSTCODES) : 
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 Registered Office: 
  20-22 Bedford Row 
  London WC1R 4JS 
  Head Office: 
  Clontarf Energy 
  162, Clontarf Road 
  Dublin 3 
  Ireland 
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 COUNTRY OF INCORPORATION: 
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 England and Wales 
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 COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED 
  BY AIM RULE 26: 
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 http://clontarfenergy.com/ 
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 COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, 
  IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING 
  POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE 
  TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED: 
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 Persian Gold plc (to be renamed Clontarf Energy plc) is acquiring 
  Hydrocarbon Exploration plc by way of a scheme of arrangement, 
  admission is being sought as a result of a reverse takeover. 
  Clontarf Energy plc is the holding company for a group of companies 
  (together, the "Group") operating as an independent International 
  oil and gas exploration and appraisal business with a geographic 
  focus on West Africa, Latin America and the US Gulf of Mexico. 
  The Group's current asset portfolio comprises the Tano 2A petroleum 
  exploration block in Ghana, petroleum exploration blocks 188 
  and 183 in Peru, interests in the El Dorado and Monteagudo 
  oil and gas fields in Bolivia as well as interests in five 
  oil fields in the US held through the company's subsidiary 
  Endeavour Oil & Gas and the Chah-e-Zard and Dalli gold project 
  in Iran. The Company's strategy is to generate growth and long 
  term shareholder value through participation in the exploration 
  and development of the Group's existing asset base and through 
  the potential acquisition of additional prospects and projects. 
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 DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS 
  AS TO TRANSFER OF THE SECURITIES (i.e. where known, number 
  and type of shares, nominal value and issue price to which 
  it seeks admission and the number and type to be held as treasury 
  shares): 
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 198,784,469 ordinary shares of 0.25p each 
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 CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED 
  MARKET CAPITALISATION ON ADMISSION: 
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 Capital to be raised on Admission: GBP2,727,820.26 
  Anticipated market capitalisation on Admission: GBP13.42 million 
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 PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION: 
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 26.09% 
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 DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH 
  THE AIM COMPANY HAS APPLIED OR AGREED TO HAVE ANY OF ITS SECURITIES 
  (INCLUDING ITS AIM SECURITIES) ADMITTED OR TRADED: 
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 N/A 
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 FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS 
  (underlining the first name by which each is known or including 
  any other name by which each is known): 
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  John James Teeling       (Executive Chairman) 
   David John Horgan        (Managing Director) 
   James (Jim) Michael      (Financial Director) 
   Finn 
   Jack Teeling             (Non-Executive 
                            Director) 
   Manouchehr Takin         (Non-Executive 
                            Director) 
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 FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED 
  AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER 
  ADMISSION (underlining the first name by which each is known 
  or including any other name by which each is known): 
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                        Currently               On Admission 
                  -----------------------  ------------------------ 
                   Number of   Percentage  Number of    Percentage 
                   Ordinary    of issued    Ordinary    of issued 
                    Shares       share       Shares       share 
  Name               held       capital       held       capital 
                  -----------  ----------  ----------  ------------ 
  John James 
   Teeling*       14,512,900*    16.91%    22,286,633        11.22% 
  James (Jim) 
   Michael Finn    7,875,400     9.18%     11,024,867        5.55% 
  David John 
   Horgan**        6,975,000     8.13%     10,842,233        5.45% 
  Jack Robert 
   Teeling         6,337,500     7.39%     7,247,967         3.65% 
  Walker Crips 
   Weddle Beck     4,949,900     5.77%     4,949,900         2.49% 
     Credit 
      Agricole 
      Luxembourg 
      Private 
      Bank         4,340,000     5.06%     4,340,000         2.18% 
  Mike Thompsen    4,100,000     4.78%     4,100,000         2.06% 
  * 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. 
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 NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 
  2, PARAGRAPH (H) OF THE AIM RULES: 
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 N/A 
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            (i) ANTICIPATED ACCOUNTING REFERENCE DATE (ii) DATE TO WHICH THE 
            MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN 
            PREPARED (this may be represented by unaudited interim financial 
            information) (iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE 
            REPORTS PURSUANT TO AIM RULES 18 AND 19: 
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            (i) 31 December; 
             (ii) 30 June 2010; and 
             (iii) Year end accounts by 30 June 2011 for the period ended 
             31 December 2010. Interims by 30 September 2011 for the period 
             ended 30 June 2011. Year end accounts by 30 June 2012 for the 
             period ended 31 December 2011. 
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 EXPECTED ADMISSION DATE: 
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 6 April 2011 
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 NAME AND ADDRESS OF NOMINATED ADVISER: 
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 Shore Capital and Corporate Limited 
  Bond Street House 
  14 Clifford Street 
  London W1S 4JU 
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 NAME AND ADDRESS OF BROKER: 
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 Shore Capital Stockbrokers Limited 
  The Atlantic Suite 
  Ground Floor, The Corn Exchange 
  Fenwick Street 
  Liverpool L2 7RB 
  Optiva Securities Limited 
  2 Mill Street 
  London W1S 2AT 
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 OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE 
  (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE 
  AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL 
  DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES: 
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 Copies of the Admission Document, containing full details about 
  the applicant and the admission of its securities, will be 
  available from the offices of Shore Capital and Corporate Limited, 
  Bond Street House, 14 Clifford Street, London W1S 4JU and at 
  http://clontarfenergy.com/ 
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 DATE OF NOTIFICATION: 
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 23 March 2011 
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 NEW/ UPDATE: 
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 NEW 
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