Issue of Equity

 

The Company announces that it has issued 79,314,000 new ordinary shares of 0.05p each in satisfaction of loans previously granted and interest thereon at a price of 0.06667 pence per share as follows:

  * Hot Rocks Investments plc: 47,589,000 new ordinary shares

  * Woodland Capital Limited: 31,725,000 new ordinary shares

The loans were granted on 1 June 2013 with interest at 15% per annum.

Mr Gavin Burnell, who is a director and shareholder of the Company, is also a director and shareholder of Hot Rocks Investments plc and Woodland Capital Limited. The issue of equity is therefore a related party transaction.

The total number of shares held by Mr Burnell, Hot Rocks Investments plc and Woodland Capital Limited following the share issue are as follows:

Shareholder                         Number of shares                        %

Gavin Burnell                               55,000,000                          6.41

Hot Rocks Investments plc           112,589,000                        13.12

Woodland Capital Limited              86,725,000                        10.11

Total                                         254,314,000                        29.64

Pursuant to the issue of equity, the issued share capital of the Company is 858,075,605. The figure of 858,075,605 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 change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

 

The Directors of the Issuer accept responsibility for this announcement.

 

ENQUIRIES:

Goldcrest Resources plc

Frederick Bell,

Managing Director

Tel: 0755 4872 794

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John Watkins,

Chairman

Tel: 01483 771992

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Cairn Financial Advisers LLP

Avi Robinson / Jo Turner

Tel: 020 7148 7900