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Shanta Gold Limited - Restructuring convertible loan notes

RNS Number : 2951H
Shanta Gold Limited
24 March 2020
 

24 March 2020

Shanta Gold Limited

("Shanta" or the "Company")

Passing of written resolutions restructuring convertible loan notes

Shanta Gold Limited (AIM: SHG), the East Africa-focused gold producer, developer and explorer, is pleased to announce that further to the announcement made on 20 February 2020 regarding the posting of the written resolutions to the loan note holders ("Loan Note Holders") of the unsecured subordinated convertible loan notes due April 2020 ("Loan Notes"), the written resolutions have been duly passed as Extraordinary Resolutions on 23 March 2020 receiving over 75 per cent. of votes in favour from the Loan Note Holders. 

Following the passing of the written resolutions the maturity date of the Loan Notes has been extended to April 2021 and Shanta is permitted to redeem the Loan Notes earlier (in whole or in part), if it so chooses, by notice to the Loan Note Holders.

Enquiries:

Shanta Gold Limited


Eric Zurrin (CEO)

+ 255 (0) 22 292 5148

Luke Leslie (CFO)




Nominated Adviser and Broker


Numis Securities Limited


Paul Gillam / Alamgir Ahmed

+ 44 (0) 20 7260 1000



Financial Public Relations


Tavistock


Charles Vivian / Barnaby Hayward / Gareth Tredway

+ 44 (0) 20 7920 3150

About Shanta Gold Limited

Shanta Gold is an East Africa-focused gold producer, developer and explorer. It currently has defined ore resources on the New Luika project in Tanzania and holds exploration licenses covering approximately 1,500km2 in the country. Shanta's flagship New Luika Gold Mine commenced production in 2012 and produced 84,506 oz in 2019. The Company has been admitted to trading on London's AIM and has approximately 794 m shares in issue. For further information please visit: www.shantagold.com.

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

ENDS


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Quick facts: Shanta Gold Limited

Price: 14

Market: AIM
Market Cap: £111.15 m
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