Acquisition and Issue of Equity

RNS Number : 8283X

Athol Gold and Value Limited

21 February 2012

 



Athol Gold and Value Limited

("Athol" or the "Company")

Acquisition and Issue of Equity

The Board of Athol is pleased to announce that it has issued 207,622,728 new shares in Athol ("New Athol Shares") at 0.33p (the Net Asset Value per share as at 4.30 PM on 16 February 2012) as consideration for the acquisition of a portfolio of listed investments and loan convertible notes from PLUS listed Agneash Soft Commodities plc with a value of £685,155 as at 16 February 2012 (the "Portfolio"). 

The Portfolio

Company	Exchange	Investment Held	Value as at 16 February 2012 (£)
Silvermere Energy Plc	AIM	Convertible loan notes	330,000
Nexus Management Plc	AIM	Ordinary Shares	8,775
Chapel Down Group Plc	PLUS	Ordinary Shares	153,255
Alpha Prospects Plc	PLUS	Ordinary Shares	150,000
Early Equity Plc	PLUS	Ordinary Shares	43,125

Application has been made for the 207,622,728 New Athol Shares to be admitted to AIM, which is expected to take place on 27 February 2012.  The New Athol Shares will, when issued, rank pari passu with the existing ordinary shares in issue.

Following this transaction, there will be 1,138,140,737 ordinary shares in issue and, on a fully diluted basis, 1,300,744,914 outstanding.

Athol Gold & Value chairman Jennifer Allsop stated:

"This latest deal increases our funds under management materially. We continue to explore other ways to increase our asset backing via the paper funded purchase of assets. We are delighted that Agneash's board has accepted Athol paper at NAV rather than at a share price which fails to reflect the value of our portfolio."

We will be seeking to adjust our portfolio over the coming weeks in light of the recent Ronaldsway deal and today's purchase. Our focus remains on value and especially on gold stocks. We will give a formal investor update with the publication of calendar 2011 results in April."

For further information please call:

Athol Gold and Value Limited
Jennifer Allsop	[phone]
Libertas Capital
Sandy Jamieson	[phone]
XCAP Securities plc
John Grant / Jon Belliss	[phone]

 

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