Wishbone Gold PLC Admission to the NEX Exchange Growth Market (9686F)

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RNS Number : 9686F

Wishbone Gold PLC

26 February 2018

26 February 2018

Wishbone Gold Plc

("Wishbone Gold" or the "Company")

Wishbone Gold Plc / Index: AIM / Epic: WSBN / Sector: Natural Resources

Admission to the NEX Exchange Growth Market

Wishbone Gold Plc (AIM: WSBN; NEX: WSBN) is pleased to announce that it has applied for admission to trading of its entire issued share capital consisting of 1,305,256,635 fully paid ordinary shares of 0.1 pence each ("Ordinary Shares"), on the NEX Exchange Growth Market ("NEX"), with effect from 8.00am 5 March 2018 ("Admission").

Company Information

Wishbone Gold Plc operates in the precious metals market through two strategies. It has a wholly owned precious metals trading business centred in Dubai, United Arab Emirates. The Company also holds four exploration licences in North East Queensland, Australia, in an area covering over 34,000 acres known for significant precious metal mineralisation.

The Company was admitted to trading on AIM on 16 July 2012. A copy of its admission documents dated 10 July 2012 can be accessed on its website, www.wishbonegold.com. This website is where items can be inspected under Rule 75 of the NEX Rules for Issuers.

The Ordinary Shares will remain admitted to trading on AIM following Admission. The Company's Ordinary Shares are eligible for CREST Settlement by way of depository interests. The Company is not subject to the UK City Code on Takeovers and Mergers, and Gibraltar does not have a similar code. The Company holds no Ordinary Shares in treasury.

Details of the Directors

Richard O'Dell Poulden, Chairman & CEO

Following a law degree from Oxford University, Mr. Poulden qualified as a Barrister, after which he moved into merchant banking where he worked for Samuel Montagu & Co Limited. Following an MBA at the London Business School and an exchange program with Harvard Business School, he joined the international management consultancy firm, Arthur D Little, where he worked in their European strategy practice. He was also co-founder of its Financial Industries Group. He served in the UK Leadership Team of Electronic Data Systems where he worked on developing new financial structures for the sale of Electronic Data Systems services. He has founded or co-founded successful companies in healthcare, retail and natural resources and in all these sectors he has executed successful strategies for growth by acquisition. Mr Poulden is Chairman of AIM traded PCG Entertainment PLC and Chairman of Black Swan plc.

Professor Michael Raymond Mainelli, Non-Executive Director

Professor Mainelli co-founded Z/Yen Group Limited ("Z/Yen"), a commercial think-tank, in 1994 to promote societal advance through better finance and technology. In his career he has worked in rocket science, finance, and technology. Professor Mainelli has worked on the internet since 1976 with numerous early stage technologies, such as developing games for clients, e.g. Sony, as well as for Z/Yen. Professor Mainelli won a 1996 Foresight Challenge award for creating the Financial Laboratory, melding military gaming with trading to visualise financial risk, and a 2003 UK Smart Award for PropheZy, Z/Yen's prediction software. Professor Mainelli has been a commentator on the fusion of betting, gaming and finance over the years, including work on weather bets and sports contingency risk. After a post at Arthur Andersen, Professor Mainelli spent seven years as a partner and board member of the leading accountancy firm, BDO Binder Hamlyn, directing global consulting projects. While cofounding Z/Yen, Professor Mainelli served as a Director of Europe's largest R&D organisation (the Defence Evaluation & Research Agency) leading to two privatisations. Educated at Harvard, Trinity College Dublin and the London School of Economics, Professor Mainelli is a qualified accountant, securities professional, computer specialist and management consultant, he was 2004/2005 British Computer Society "Director of the Year". In 2005, he was the Mercers' School Memorial Professor of Commerce at Gresham College. Professor Mainelli is a non-executive director of the United Kingdom Accreditation Service (UK's national body for standards and laboratories) and AIM traded PCG Entertainment plc and has held numerous advisory posts, including Hitachi UK and HM Treasury.

Alan David Gravett, Non-Executive Director

Mr Gravett commenced employment with Barclays Bank Trust Company Limited, (then Barclays Bank Executor and Trustee Department), in 1965 achieving the Trustee Diploma of the Institute of Bankers in 1973. By 1986 he had become manager of their Gibraltar operation, dealing with the administration of companies and trusts, leaving in 1988 and remaining in Gibraltar to join a large local trust corporation. In 1993 he became an executive director of a smaller local trust corporation and remained there for 18 years leaving when the trust corporation was sold. He is now a freelance consultant based in Gibraltar but continues to be closely involved with company and trust structures for a wide range of international clients.

Jonathan Harrison, Non-Executive Director

Jonathan, a chartered accountant with experience in quoted and unquoted companies, has past natural resource experience as Finance Director of Sirius Minerals Plc overseeing the financial aspects of the company through flotation and its series of acquisitions. He spent a most of his career working in senior financial positions within the hotel and leisure industry and during this time oversaw a number of IPOs and mergers and acquisitions.

Sector Classification

Mining

Registered Office and Principal Place of Business

Registered office

G1 Haven Court

5 Library Ramp

Gibraltar

Principal place of business:

PO Box 38032

Dubai

United Arab Emirates

Telephone: [phone]

Corporate Adviser and Contact Details

Allenby Capital Limited

5 St. Helen's Place

London EC3A 6AB

Tel: [phone]

Nick Harriss - [e-mail]

Nick Naylor - [e-mail]

Shareholder Information

The percentage of Ordinary Shares not in public hands is 54.9%.

 
Name of Shareholder        Number of     Percentage 
                            Ordinary     of enlarged 
                           Shares Held   issued share 
                                           capital 
Ashton Nominees Inc       350,507,143       26.9% 
Beaufort Nominees 
 Limited                   75,662,875       5.8% 
Harewood Nominees 
 Limited                   39,042,171       3.0% 
Hargreaves Lansdown 
 Limited                   64,774,357       5.0% 
JIM Nominees Limited      161,046,245       12.3% 
Lynchwood Nominees 
 Limited                   81,780,270       6.3% 
SVS Nominees Limited       52,956,091       4.1% 
Solent Nominees Limited   239,000,000       18.3% 
 
 
Director                Number of      Percentage 
                         Ordinary      of Enlarged 
                        Shares Held   Share Capital 
Richard Poulden(1)     428,691,771       32.8% 
Jonathan Harrison(2)    23,076,200        1.8% 
Michael Mainelli(3)     15,091,783        1.2% 
Alan Gravett            12,196,721        0.9% 
 

Notes:

1. Richard Poulden is deemed to be interested in 428,691,771 Ordinary Shares referred to above as follows (and all such Ordinary Shares, other than those of the Black Swan Group are registered in the name of Ashton Nominees Inc.):

   a)    2,000,000 Ordinary Shares held by Richard Poulden's infant children; 

b) 22,642,857 Ordinary Shares held through the Collins Settlement, a trust for the benefit of Richard Poulden and his family;

c) 32,505,062 Ordinary Shares held be Black Swan Plc, a Company of which Richard Poulden is the chairman; and

d) 371,543,852 Ordinary Shares held by Black Swan FZE, which is a wholly owned subsidiary of Black Swan Plc.

2. Jonathan Harrison is deemed to be interested in 23,076,200 Ordinary Shares referred to above as follows:

   a.     5,092,824 Ordinary Shares held in his own name; and 

b. 17,983,376 Ordinary Shares held by Easy Business Consulting Ltd, a company controlled by Jonathan Harrison and owned by Jonathan Harrison and his wife.

3. 15,091,783 Ordinary Shares are held by Hawksford Jersey Limited. These shares are held for The Z/ Yen Employee Benefits Trust. Michael Mainelli is a director of Z/Yen Group Limited and a potential beneficiary of The Z/Yen Group Employee Benefits Trust.

Enquiries:

Wishbone Gold PLC

   Richard Poulden, Chairman                                        Tel: [phone] 

Allenby Capital Limited

(Corporate Adviser and Nominated Adviser)

   Nick Naylor/Nick Harriss                                             Tel: [phone] 

Beaufort Securities Limited

(Broker)

Elliot Hance Tel: [phone]

Damson Communications

(Public Relations)

   Abigail Stuart-Menteth/Amelia Hubert                Tel: [phone] 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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February 26, 2018 11:30 ET (16:30 GMT)