Cluff Gold plc
TSX : CFG
AIM : CLF

Cluff Gold plc

October 06, 2010 12:01 ET

Cluff Gold plc: Additional Listing and Director's Shareholding

LONDON, UNITED KINGDOM--(Marketwire - Oct. 6, 2010) - Cluff Gold ("Cluff Gold" or the "Company") (TSX:CFG)(AIM:CLF), the dual AIM/TSX-listed West African-focused gold mining company, today announces that it has approved the issue of 200,000 ordinary shares ("Ordinary Shares") of 1 pence each in the Company (the "New Ordinary Shares"). Application has been made for the New Ordinary Shares to be admitted to trading on the London Stock Exchange's AIM market for listed securities ("Admission"). 

The New Ordinary Shares are being issued pursuant to the exercise of Enterprise Management Incentives (EMI) options by Douglas Chikohora, Non-Executive Director of the Company, following his standing down as an Executive Director of the Company last month. Mr Chikohora notified the Company that on the same day, he sold these Ordinary Shares at an average price of 111.06p per Ordinary Share.

Mr Chikohora's beneficial interest in the Company's shares following the sale is as shown below:

  Number of Ordinary Shares held Percentage of current Ordinary Share capital Number of Options held over Ordinary Shares
Douglas Chikohora 538,409 0.44 500,000

Admission and dealings in the New Ordinary Shares are expected to become effective on 12 October 2010. The new Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares. 

Following Admission, the total issued share capital of the Company will be 122,965,595 Ordinary Shares, all of which have voting rights. 

The above figure 122,965,595 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of Cluff Gold under the FSA's Disclosure and Transparency Rules.

About Cluff Gold

Cluff Gold is a gold developer-producer with assets in West Africa. The Company generates cash flow from its two producing assets, Kalsaka in Burkina Faso and Angovia in Côte d'Ivoire, which together produce a total of 100,000oz of gold per annum. The Company strives to become a mid-tier producer through the development of its wholly-owned Baomahun project in Sierra Leone, which is expected to contribute an additional 157,000oz of gold per annum, with significant exploration potential along strike. With its experience of bringing new mines into production, the Company aims to further increase its production profile with its highly prospective exploration work at all three projects.

NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.

Contact Information

  • Cluff Gold plc
    J.G. Cluff
    Chairman and CEO
    +44 (0) 20 7340 9790
    or
    Cluff Gold plc
    Catherine Apthorpe
    Commercial Manager
    +44 (0) 20 7340 9790
    or
    Evolution Securities Limited
    Rob Collins
    +44 (0) 20 7071 4300
    or
    Evolution Securities Limited
    Tim Redfern
    +44 (0) 20 7071 4300
    or
    Pelham Bell Pottinger
    Charles Vivian
    Investor Relations (Global)
    +44 (0) 20 7861 3232
    or
    Pelham Bell Pottinger
    Klara Kaczmarek
    Investor Relations (Global)
    +44 (0) 20 7861 3232
    or
    Farm Street Communications Ltd
    Simon Robinson
    Press Relations (U.K.)
    +44 (0) 7593 340 107
    simon.robinson@farmstreetmedia.com