Shanta Gold Ltd. (SHG)

Sector:

Mining

Index:

FTSE AIM All-Share

9.75p
   
  • Change Today:
      0.15p
  • 52 Week High: 12.85
  • 52 Week Low: 6.10
  • Currency: UK Pounds
  • Shares Issued: 793.93m
  • Volume: 1,204,727
  • Market Cap: £77.41m
  • RiskGrade: 549

Shanta Gold gets nod from note holders to extend maturity date

By Josh White

Date: Thursday 20 Feb 2020

LONDON (ShareCast) - (Sharecast News) - East Africa-focussed gold producer Shanta Gold has received irrevocable undertakings from holders of its outstanding unsecured subordinated convertible loan notes due in April, representing 77.14% by nominal value, to vote to extend the maturity date by one year, it announced on Thursday.

The AIM-traded firm said the restructuring would also allow it to redeem the loan notes earlier in whole or in part, if it so chooses, by notice to the holders.

It explained that the arrangements remained subject to the approval of loan note holders holding at least 75% in nominal value of the notes outstanding, with irrevocable undertakings received from 77.14% of holders to vote in favour of the arrangements.

Written resolutions would be sent to the holders shortly which, if passed by the requisite majority, would enable the company to implement the arrangements.

"Management and the Board took the decision to defer the repayment of convertible loan notes in order to maximise financial flexibility ahead of making the payment to Barrick for the West Kenya acquisition announced last week," said chief executive officer Eric Zurrin.

"Today's announced convertibles restructuring allows Shanta the option to repay the loan note holders earlier than 12 months, if we so choose."

At 1154 GMT, shares in Shanta Gold were up 0.52% at 12.46p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

SHG Market Data

Currency UK Pounds
Share Price 9.75p
Change Today 0.15p
% Change 1.56 %
52 Week High 12.85
52 Week Low 6.10
Volume 1,204,727
Shares Issued 793.93m
Market Cap £77.41m
RiskGrade 549

SHG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
31.92% above the market average31.92% above the market average31.92% above the market average31.92% above the market average31.92% above the market average
1.79% below the sector average1.79% below the sector average1.79% below the sector average1.79% below the sector average1.79% below the sector average
Price Trend
95.35% above the market average95.35% above the market average95.35% above the market average95.35% above the market average95.35% above the market average
85.48% above the sector average85.48% above the sector average85.48% above the sector average85.48% above the sector average85.48% above the sector average
Income Not Available
Growth
52.23% above the market average52.23% above the market average52.23% above the market average52.23% above the market average52.23% above the market average
3.45% above the sector average3.45% above the sector average3.45% above the sector average3.45% above the sector average3.45% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

SHG Dividends

No dividends found

Trades for 07-Apr-2020

Time Volume / Share Price
11:13 1,451 @ 9.93p
11:06 30,000 @ 9.62p
11:00 37,123 @ 9.61p
11:00 20,000 @ 9.61p
11:00 60,000 @ 9.61p

SHG Key Personnel

CFO Luke Leslie
CEO Eric Zurrin

Top of Page