DGAP-News: Pearl Gold AG announces Capital Increase against contributions in kind
(firmenpresse) - DGAP-News: Pearl Gold AG / Key word(s): Capital Increase/Corporate
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Pearl Gold AG announces Capital Increase against contributions in kind
16.03.2012 / 11:03
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Pearl Gold AG announces Capital Increase against contributions in kind
Malian company SODINAF acquires 5,000,000.00 new shares in Pearl Gold by a
transfer of rights
Frankfurt, 16 March 2012 - Pearl Gold AG (02:GR), a German holding that
invests in West African mining projects, has announced to issue
5,000,000.00 new ordinary bearer shares against contributions in kind -
excluding the subscription rights of the shareholders - to the Malian
company Sociétépour le développement des Investissements en Afrique
(SODINAF) SA, Bamako/Mali. Thereby, the current share capital of Pearl Gold
AG in the amount of EUR 20,000,000.00, divided into 20,000,000.00 shares,
will be increased by EUR 5,000,000.00 to EUR 25,000,000.00. The capital
increase becomes effective with registration into the commercial register.
The contribution in kind shall be constituted by a transfer of rights
currently owned by SODINAF. SODINAF received the right on the delivery of
troy ounces of gold from Wassoul'Or SA, Bamako/Mali, in exchange for the
obligation to finance construction of the Kodieran gold mine, operated by
Wassoul'Or SA, in which Pearl Gold holds a 25% stake. Following a profound
economic evaluation, the management board of Pearl Gold has determined for
the issue of the 5 million new shares a total equivalent of 48,000 troy
ounces of gold, of which 14,000 troy ounces to be delivered to Pearl Gold
in 2012 and 34,000 troy ounces to be delivered in 2013. This amount is
based on a share price of EUR 12.3465 that was obtained by using the
average between the three-month average weighted stock price of Pearl Gold
and the average close price of the company's share each for the Frankfurt
floor trading and XETRA trading. Additionally, Pearl Gold's management
board has taken the current and the current future gold price as per
December 2013 into account. 'By acquiring the delivery right of gold
ounces, our shareholders have the opportunity to participate in the upside
between the current gold price and the gold price that is currently
expected by analysts,' said Lutz Hartmann, member of Pearl Gold's
management board. 'The right adds a special asset to Pearl Gold and allows
us to overcome a certain discount that is currently applied to gold mines
against the valuation that is applied to physical gold. Furthermore, the
gold delivery in December will place us in a position to even sooner
generate liquidity and to submit to the shareholders attractive projects or
dividends.'
Disclaimer
This publication is exclusively for information purposes and does not
constitute either an offer to sell or a solicitation of an offer to buy any
securities. There was neither a public offer in connection with this
transaction, nor will there be a public offer of securities. No securities
prospectus has been or will be prepared in connection with the transaction.
Dissemination of this disclosure and the offer and sale of securities could
be subject to restrictions in certain jurisdictions.
This notice is not intended for persons in the United States of America -
including its territories, dependencies, federal states and the District of
Columbia - and may not be disseminated either directly or indirectly in the
United States of America. This notice is neither an offer nor part of an
offer for the sale of or a solicitation of an offer to buy or subscribe for
securities in the United States of America. The shares of Pearl Gold AG
(the 'shares') detailed herein have not been and will not be registered
under the United States Securities Act of 1933 in its respective applicable
version ('Securities Act') or the laws of any State, nor will they be
offered or sold in the United States of America. The shares may neither be
offered or sold in the United States of America nor to persons in the
United States of America or delivered there either directly or indirectly,
excluding exceptional cases as a result of an exemption from the
registration requirements in the Securities Act or the law of an individual
state of the USA.
This disclosure is not intended for persons in Canada, Japan or Australia.
The securities detailed in this disclosure may not be offered or sold to
persons in these countries.
Pearl Gold AG
Pearl Gold AG is a holding company listed on the Open Market of the German
Stock Exchange, based in Frankfurt. The company focuses on investments in
West African exploration and mining corporations, especially in the field
of gold and other precious metals. The first investment of Pearl Gold is
the Malian mining company Wassoul'Or, in which Pearl Gold holds 25% of
shares. Wassoul'Or concentrates on the exploration and production of gold
and runs the Kodieran gold mine in the South of Mali.
For further information visit http://www.pearlgoldag.com
For Inquiries:
MSL Financial
Steffi Fahjen
Email: steffi.fahjen(at)mslgroup.com
Tel: +49 (0) 69 6612456 8394
End of Corporate News
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16.03.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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160939 16.03.2012
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Datum: 16.03.2012 - 11:03 Uhr
Sprache: Deutsch
News-ID 125515
Anzahl Zeichen: 5494
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Kategorie:
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