Director Warrant Holding

RNS Number : 8522C

Condor Resources PLC

20 November 2009

 



 20th November 2009

Condor Resources Plc

                                                                           (the "Company")

Director Warrant Holding

The Company was notified on 20th November 2009 that on the 20th November 2009, Mark Child, the Non-Executive Chairman of the Company, acquired 12.75 million warrants in the Company at a price of 0.02 pence per warrant. The exercise prices of the warrants vary and are 2.75 million warrants at 1 pence, 5 million warrants at 1.5 pence and 5 million warrants at 2 pence. The expiry date of the warrants is 26th June 2011. The warrants were part of an issue on 27th June 2008 to third parties as part of a placement fee for the raising of £2m by way of a private placement for the Company. 

Following the warrant purchase Mr Child has an interest in 23.75 million warrants in the Company. Mr Child has an interest in 11 million ordinary shares, representing 2.34% of the current issued share capital and total voting rights of the Company. Mr Child also holds employee options to subscribe for 1.25m ordinary shares at an option exercise price of 15 pence and with an expiry date of 30th May 2011 and employee options to subscribe for 9 million ordinary shares at an option exercise price of 1 pence and with an expiry date of 23rd December 2013. 

- ends - 

For further information please visit www.condorresourcesplc.com or contact: 

Condor Resources plc                             Mark Child, Chairman 

               [phone] 

Ambrian Partners Limited                        Richard Swindells

               [phone]   

Farm Street Media                                  Simon Robinson

                                                               [phone]

About Condor Resources Plc:

Condor Resources plc is an AIM listed exploration company focused on developing natural resource projects in Central America. The Company was admitted to AIM on 31st May 2006 raising £4.9m to prove up JORC Resources in Nicaragua and El Salvador. Condor has three 100% owned licenses contained within two project areas in Nicaragua. In El Salvador, Condor has 100% ownership of four licences in two project areas.

Since Admission to AIM, Condor has increased its JORC compliant inferred resources from 350,000 ounces of gold and 18 million ounces of silver to 788,000 ounces of gold and 22 million ounces of silver. The Resource calculations are compiled by independent geologists Ravensgate and Geosure. 

 

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