Business
Issue of Equity & Director/PDMR Shareholding
Issue of Equity & Director/PDMR Shareholding.
About this update from Goldstone Resources Limited
[{"type":"text","content":"\n \nRNS Number : 6677U Goldstone Resources Ltd 04 December 2013 \n \n\nGOLDSTONE RESOURCES LIMITED\n(\"GoldStone\" or the \"Company\")\n \nISSUE OF EQUITY\n \nGoldStone (AIM: GRL), the AIM quoted company focused on gold exploration in West and Central Africa, announces the allotment of 9,918,310 new ordinary shares of 1p each to the Executive Directors and operational management in lieu of remuneration for the period from March 2013 to November 2013 (the \"Remuneration Shares\") and the issue of 4,840,000 new ordinary shares of 1p each also to the Executive Directors and management (the \"Bonus Shares\").\nRemuneration 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 shares at a price to be determined by the Remuneration Committee at an appropriate time.\nOn 3 December 2013 the board of GoldStone resolved that:\n· 7,468,500 Remuneration Shares be issued and allotted to directors and management in lieu of remuneration deferred during the period from March to August 2013, equating to a subscription price of 1p per share.\n· 2,449,810 Remuneration Shares be issued and allotted to directors and management in lieu of remuneration deferred during the period from September to November 2013, equating to a subscription price of 1.58p per share which is the volume weighted average price during the period.\n· for the period from December 2013 to February 2014 deferred salaries be converted into shares by the issuing of further new ordinary shares at the volume weighted average price for the period, provided that such allotment occurs after 28 February 2014, the relevant employee is still in the employment of the Company, and that no further conversion of salaries into shares will occur unless otherwise agreed.\nBonus Shares\nThe Remuneration Committee recognises that it is in the interests of the Company that management is suitably incentivised through having the ability to share in the value growth of GoldStone. The Remuneration Committee therefore recommended to the Board to issue 4,840,000 Bonus Shares to the Executive Directors and management.\nIn addition a revised share inc...