Ex of Warrants & Options/Holdings in Company/TVR

RNS Number : 6552F

Condor Resources PLC

28 April 2011

 



28^th April 2011

Condor Resources Plc

(''Condor'' or ''the Company'')

Exercise of Warrants and Options, Holdings in the Company

and

Total Voting Rights

Exercise of Warrants and Options

Condor Resources Plc, the AIM quoted Central America gold and silver exploration company, announces that on 28 April 2011, Mark Child, Chairman, exercised 1,250,000 warrants at a price of 1 pence per ordinary share, 5,000,000 warrants at a price of 1.5 pence per ordinary share and 5,000,000 warrants at 2 pence per ordinary share.

Mark Child exercised a further 1,500,000 warrants at a price of 1 pence per ordinary share and a long term existing shareholder has purchased these 1,500,000 ordinary shares at a price of 9p per share.

The Company was informed on 28 April 2011 that Campden Financial Services Limited has exercised 6,000,000 warrants at a price of 1 pence per ordinary share and will hold the shares resulting from the warrant exercise for the long term.

The Company was informed on 28 April 2011 that Klaus Eckhof, a former non-executive director of the Company, has exercised 3,000,000 options at a price of 1 pence per ordinary share. The shares resulting from the option exercise are subject to an orderly market agreement.

Following the exercise of the above warrants, there are no warrants outstanding in the Company.  The exercise of the warrants and options above, combined with the warrants exercised and announced on 19th and 26th April 2011 result in the company receiving funds of £342,500.

Application will be made for these new ordinary shares to be admitted to trading on AIM and dealings are expected to commence at 8.00am on 6 May 2011.

Director's Interests and Holdings in the Company

Following the exercise of these warrants, Mark Child's interest in the Company is as follows:

	No. of ordinary shares	% of issued share capital	No. of options
Mark Child	68,750,000	12.45	15,250,000

Following the increase in the issued share capital, the interests of significant shareholders is as follows:

	No. of ordinary shares	% of issued share capital
Oracle Investment Management	46,222,915	8.28
Macquarie Bank Limited	33,333,333	5.97

Sunley Holdings Limited's interest has now fallen below 3% and is no longer disclosable.

Total Voting Rights

Following the issue of the new ordinary shares, the Company's total issued share capital will be 558,345,086 ordinary shares of 1p each.

All of the Ordinary Shares have equal voting rights and none of the ordinary shares are held in Treasury.

The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules.

 - Ends -

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

Condor Resources plc	Mark Child, Chairman [phone]	Luc English, Country Manager Nicaragua & El Salvador [phone]
Ambrian Partners Limited	Samantha Harrison and Ben Wright [phone]
Farm Street Media	Simon Robinson [phone]

About Condor Resources Plc:

Condor Resources plc is an AIM listed exploration company focused on developing gold and silver resource projects in Central America.  The Company was admitted to AIM on 31^st May 2006 with the stated strategy to prove up JORC Resources in Nicaragua and El Salvador.  Condor has four 100% owned licenses and 80% of La India concession in La India Mining District; three 100% owned licences in three other project areas and 20% in the Cerro Quiroz concession in Nicaragua.  In El Salvador, Condor has 100% ownership of four licences in two project areas.

Condor's concession holdings currently contain a JORC compliant inferred resource base of 1,092,000 ounces of gold in Nicaragua and 747,000 ounces of gold and 22 million ounces of silver in El Salvador. The Resource calculations are compiled by independent geologists Ravensgate, Geosure and SRK.

Disclaimer

Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.

 

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