TORONTO, Feb. 15 /CNW/ - Gladstone Pacific Nickel Limited ("Gladstone")
announces that on 8 February 2008 it was agreed that 380,750 Ordinary Shares
of no par value in the Company will be issued to Transocean Group Pty Ltd
("Transocean"), a related party of Director Mr James Gilbert Henderson. The
shares are issued to Transocean as a success fee in relation to Transocean's
role as Corporate Advisor to Gladstone, assisting with identifying funding for
the Gladstone Nickel Project, and is payable as a result of the signing of
Memorandum of Understanding as announced on 30 January 2008.
Under a prior agreement between Mr Henderson and Director Mr Domenic
Martino, it was agreed that half the shares which Transocean would be entitled
to under the above agreement would be given to Impact Nominees Pty Ltd as
Trustee for the Sydney Investment Trust ("Impact Nominees"), a related party
to Director Mr Domenic Martino. Therefore, Impact Nominees will hold 190,375
Ordinary Shares of no par value and Transocean will hold 190,375 Ordinary
Shares of no par value.
Application has been made for the new shares to be admitted to trading on
AIM and this is expected to take place on 21 February 2008.
Upon conclusion of these transactions Director Mr Henderson and his
associated entities will hold or have agreed to acquire a total of 2,690,375
Ordinary Shares being 6.36% of the Company's ordinary share capital; and
Director Mr Martino and his associated entities will hold 190,375 Ordinary
Shares being 0.45% of the Company's ordinary share capital. The total number
of Ordinary Shares issued is 42,290,466.
For further information:
For further information: Julien McInally, Company Secretary - Gladstone
Pacific Nickel Limited: Tel: + 61 (0) 7 3231 7100; Fiona Owen - Grant Thornton
Corporate Finance: Tel: +44 207 383 5100; Simon Rothschild/Keith Irons -
Bankside Consultants: Tel: +44 207 367 8888