Business
Issue of Equity and Director PDMR Shareholding
Issue of Equity and Director PDMR Shareholding.
About this update from Goldstone Resources Limited
[{"type":"text","content":"\n \nRNS Number : 7279S Goldstone Resources Ltd 26 September 2014 \n \n\nGOLDSTONE RESOURCES LIMITED\n(\"GoldStone\" or the \"Company\")\n \nIssue of Equity and Director/PDMR Shareholding\n \nGoldStone (AIM: GRL), the AIM quoted company focused on gold exploration in West and Central Africa, announces the issue and allotment of 10,634,223 new ordinary shares of 1p each (\"Ordinary Shares\") to the Executive Directors and operational management in lieu of remuneration in respect of the period from December 2013 to May 2014 (the \"Remuneration Shares\").\nDuring February 2013, in an endeavour to conserve funds, the Executive Directors and the operational management agreed to defer 50% of their salaries from 1 March 2013 and to convert such deferred salaries into Ordinary Shares at a price to be determined by the Remuneration Committee at an appropriate time. On 4 December 2013 the Company announced the issue of 14,758,310 Ordinary Shares, comprising 9,918,310 Ordinary Shares issued in lieu of salaries in respect of the period from March 2013 to November 2013 and 4,840,000 Ordinary Shares as bonus shares. Provided that the subscription agreement concluded with Stratex International plc which was announced on 21 July 2014 (the \"Subscription Agreement\") is successfully completed, no further shares in lieu of salaries will be issued. \nThe board of GoldStone resolved that 10,634,223 Remuneration Shares be issued and allotted to directors and management in lieu of remuneration deferred during the period from December 2013 to May 2014, equating to a subscription price of 0.66p per share, being the volume weighted average price for the period from March to May 2014.\nThe interests of the Executive Directors, prior to and following the issue of the Remuneration Shares, in the share capital of the Company are set out below:\n\n\n\n\nDirector\n\n\nNo. of shares held previously *\n\n\nNo. of Remuneration Shares\n\n\nResulting holding\n\n\nPercentage of enlarged share capital\n\n\n\n\nDr. Hendrik Schloemann\n\n\n6,315,443\n\n\n2,861,226\n\n\n9,176,669\n\n\n2.21%\n\n\n\n\nJurie Wessels\n\n\n7,411,804\n\n\n3,195,035\n\n\n10,606,839\n\n\n2.56%\n\n\n\n\n* 2,000,000 Ordinary Shares in which Dr. Schloemann is interested and 2,100,000 Ordinary Shares in which Mr. Wessels is interested are owned by disc...