PLACEMENT OF RIGHTS ISSUE SHORTFALL

RNS Number : 6999O

Scotgold Resources Ltd

22 September 2011

 



22 September 2011

SCOTGOLD RESOURCES LIMITED

PLACEMENT OF RIGHTS ISSUE SHORTFALL

Scotgold Resources Limited (the "Company") announced on 26 August 2011 that shareholders had taken up 87% of the shares on offer under the recent Rights Issue, raising $1,409,000.

In accordance with the Offer Document, the Directors reserved the right to deal with the shortfall shares at their discretion at the same issue price as offered to shareholders under the Rights Issue.  The Company is pleased to announce it has placed the total balance of the shortfall to investors being 4,079,256 fully paid ordinary shares ("Shares") at 5 cents per share to raise a further $203,963 before expenses.

The shares have been allotted and will be issued into the issuer sponsored sub register on 23 September 2011. The Directors are pleased to have successfully completed the Rights Issue and with the level of shareholder support.

Application will be made in due course for the shortfall shares to be listed on AIM.

For further information please contact:

United Kingdom:

Scotgold Resources Limited	Westhouse Securities Limited	Bankside Consultants
John Bentley (Chairman) Chris Sangster (CEO)	Richard Baty / Petre Norton	Simon Rothschild
Tel: [phone]	Tel: [phone]	Tel [phone]

Australia:

Scotgold Resources Limited	Professional Public Relations
Shane Sadleir (Non-Executive Director)	Karen Oswald
Tel:       [phone] Mobile: [phone]	Tel:       [phone] Mobile: [phone]

 

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