TORONTO, ONTARIO--(Marketwire - April 10, 2012) - Application has been made to the UK Listing Authority and the London Stock Exchange for, respectively, admission to the Official List and admission to trading on the Main Market of the London Stock Exchange of 5,100,000 new ordinary shares (the "New Shares") in the capital of Centamin plc ("Centamin" or "the Company") (TSX:CEE)(LSE:CEY). These shares were issued pursuant to the Company's Employee Loan Funded Share Plan 2011 ("ELFSP"), and all such shares rank pari passu with the existing issued ordinary shares of Centamin plc.
The New Shares are expected to be admitted to the Official List of the UK Listing Authority and to trading on the Main Market of the London Stock Exchange at 8.00 a.m. on or around Friday, 13 April 2012. The Toronto Stock Exchange has approved the listing of the New Shares and the New Shares will also be listed on the Toronto Stock Exchange.
The New Shares have been issued to Computershare Nominees (Channel Islands) Limited as bare trustee for the relevant participants under ELFSP.
Under the terms of the ELFSP, the Company has provided a limited recourse and interest free loan to certain employees of the Company for the purpose of acquiring the New Shares (the "Loan"). The purchase of the New Shares has been funded by the Loan and the New Shares will not vest until certain performance conditions are met. In the event the performance conditions are not met, or the shares are forfeited by the participant, the Company can either re-acquire the shares or direct the trustee to sell them on, offsetting the proceeds against the outstanding loan amount and waiving the remainder of the loan. Subject to performance conditions and time based hurdles being met, the loan will be repayable by the relevant employee in full on the earlier of the termination date of the loan (3 years from the date of issue) or the date on which the New Shares are disposed of.
Further details of the ELFSP can be found on the Company's website www.centamin.com and full copies of the plan are available to shareholders upon request.
Following the issue of the New Shares, the issued share capital of the Company now comprises 1,101,397,381 ordinary shares. None of these ordinary shares are held in treasury.
Therefore, the total number of voting rights in the Company is 1,101,397,381. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change to their interest, in the Company under the FSA's Disclosure Rules and Transparency Rules.