Issue of Equity

RNS Number : 8360K

Solomon Gold PLC

27 April 2010

 



27 April 2010

Announcement to London Stock Exchange

Issue of Equity

Solomon Gold plc ("Solomon Gold" or the "Company") today issued a total of 96,197 ordinary shares of 1 penny each in the capital of the Company (the "Shares") to a key supplier as payment for services rendered on commercial terms and conditions.

The Company has also today granted 1,300,000 share options, for nil consideration, to the Chief Operating Officer, Mr Alex Thin, over the Company's ordinary shares of 1 pence each.  These share options were granted pursuant to Mr Thin's employment contract at an exercise price of 10 pence per Ordinary Share.  The share options will vest after six (6) months, and can be exercised up to 30 June 2011.  The total number of share options (1,300,000) issued represents 0.67% of the current issued share capital of the Company.

The Company now has 193,266,272 fully paid ordinary shares and 6,915,000 options on issue.

By order of the Board

Karl Schlobohm

Company Secretary

Contacts:

Mr Karl Schlobohm                                              Mr Stephen Weir                                Mr Ewan Leggat

Company Secretary                                             RFC Corporate Finance                       Fairfax I.S. PLC

Solomon Gold Plc                                                Nominated Advisor                             Broker

Tel: [phone]                                          Tel [phone]                           Tel [phone]

[e-mail]                     [e-mail]                [e-mail]

ABOUT SOLOMON GOLD

Solomon Gold Plc's initial gold exploration projects are located on the Solomon Islands and remain a major focus of the Company.  Recently, the Company has extended its strategy to include becoming an integrated gold explorer, developer and miner with projects in lower risk theatres as well as the Solomon Islands.

Solomon Gold carries a diverse portfolio of higher risk high reward exploration projects in the Solomon Islands and lower risk projects which are more advanced towards resource definition in Queensland, where exploration costs are approximately one third of that in Melanesia. Solomon Gold's projects include: Guadalcanal and Fauro (Solomon Islands) and Rannes, Mt Perry and Normanby (Queensland, Australia).

Solomon Gold's Board includes accomplished professionals with strong track records in the areas of exploration, mine development, investment, finance and law. Board and Management have significantly vested interests in the Company holding approximately 19.3% of its issued share capital.

Solomon Gold is based in Brisbane, Queensland, Australia. The Company listed on London's Alternative Investment Market in 2006. Further details concerning the Company's key projects and personnel can be found at www.solomongold.com.

 

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