Business
Increase in Hldg in Norplat
Increase in Hldg in Norplat.
About this update from Talisman Metals Plc
[{"type":"text","content":"\n Ovoca Gold PLC\n27 February 2006\n\n\nOvoca Gold plc ('Ovoca')\n\n\nOVOCA INCREASES SHAREHOLDING IN NORPLAT TO 86%\n\n\n\n\n\nOvoca (OVG.L, London; OVX.IE, Dublin) announces that today it has acquired an\nadditional 12,112,543 ordinary shares in its subsidiary Norplat Limited, ('\nNorplat') in consideration of the issue of 13,323,798 new Ovoca ordinary shares\nof €0.025 each ('Ordinary Shares').\n\n\n\nAs a result, Ovoca now has 135,411,040 Ordinary Shares in issue and has\nincreased its shareholding in Norplat to 86%.\n\n\n\nAs part of this transaction, the following directors and their connected persons\nhave disposed of their remaining shareholding in Norplat and their previous and\ncurrent shareholding in the Company is as follows:\n\n\n Previous Previous Current Current\n Holding % Holding %\n\nRoger Tuner 2,864,438 2.35% 3,850,001 2.84%\nBarrie Oakes 3,719,889 3.05% 4,994,108 3.69%\nGuy Pas 3,964,536 3.25% 5,555,000 4.10%\n\n\n\nUnder the terms of the May 2005 Norplat Option Agreement, Ovoca retains the\nright to acquire the remaining ordinary shares in Norplat which it does not\nalready own, on the same terms, until 10 May 2007 (i.e. eleven new Ordinary\nShares for every ten Norplat ordinary shares).\n\n\n\nCommenting on this increase in Ovoca's shareholding in Norplat, Chief Executive\nBarrie Oakes stated 'Following results from the 2005 drilling and trenching\nprogramme in the Kola region of Russia, the acquisition of additional licenses\nin the area to cover more highly prospective ground and the exercising of the\noutstanding Norplat warrants the board has decided that this is an opportune\ntime for Ovoca to increase its equity holding in Norplat.'\n\n\n\n\n\nFor further information please contact\n\n\n\nBarrie Oakes CEO\n +44 (0)795 1139266\n\nRoger Turner Chairman\n+44 (0)7739 092 813\n\nKevin Lynch Nabarro Wells & Co Limited +44 (0)20\n7710 7400\nJohn Frain Davy Corporate Finance +353 (0)1 679 6363\n\nTom McCormack Connexions PR +353 (0)86\n245 4215\n\n\n +353 (0)1 230 3015\n\n\n\nThis announcement has been issued through the Companies Announcement Service of\n\n\n\n The Irish Stock Exchange\n\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":2827,"tagName":"div"}]