Issue of Shares

RNS Number : 6679W

Mercator Gold PLC

31 July 2009

 



London 31 July 2009  

MERCATOR GOLD PLC
('Mercator Gold' or the 'Company')

ISSUE OF SHARES

EXERCISE OF WARRANTS

The Company announces that pursuant to the terms of a Warrant Instrument by way of Deed Poll dated 29 May 2009, Notice of Exercise has been received for 9,353 Warrants for ordinary shares of 0.1p each in the Company (the 'Shares') at a subscription price of 2p each. 

Application has been made for the Shares, which will rank pari passu with all existing ordinary shares, to be admitted to trading on AIM.  Dealings in these Ordinary Shares are expected to commence on 6 August 2009.

ALLOTMENT OF SHARES

The Company announces that pursuant to the terms of the Convertible Loan Notes with a nominal value of £2,565,000 issued on 17 October 2007 (the 'Convertible Loan Notes'), three holders of the Convertible Loan Notes have elected to receive ordinary shares of 0.1p each in the Company (the 'Shares') instead of a cash payment of interest.  The Company will issue 674,410 Shares at 2p each, which will result in a cash saving of £13,488.22.

Application has been made for the Shares, which will rank pari passu with all existing ordinary shares, to be admitted to trading on AIM. Dealings in these Ordinary Shares are expected to commence on 6 August 2009.

The Company also announces that terms have been arranged for the settlement of creditors' fees in the amount of 5,384,808 Ordinary Shares ('the Shares') of 0.1p each in the Company at a subscription price of 2p each.  This will result in a cash saving of approximately £107,880.  

Application has been made for the Shares, which will rank pari passu with all existing ordinary shares, to be admitted to trading on AIM. Dealings in these Ordinary Shares are expected to commence on 6 August 2009.

Following the issues, the total of Shares in issue will be 121,243,482.

For further information please contact

Mercator Gold plc 

Michael Silver, Chairman                                    Tel:     [phone]

Patrick Harford, Managing Director    

Email: [e-mail]  

Website: www.mercatorgold.com 

Bankside Consultants Ltd                              Tel:     [phone]

Simon Rothschild                    

Oliver Winters

Cenkos Securities plc

Adrian Hargrave                                                Tel:     [phone]

Beth McKiernan

Old Park Lane Capital PLC

Forbes Cutler, Director of Corporate Broking        Tel:     [phone]

AIM: MCR

 

END

 

 

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