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Notice of EGM

21 December 2007

Norseman Gold plc
(“Norseman” or the “Company”)
 
Notice of EGM
 
Norseman Gold plc announces that it has today posted a circular convening an Extraordinary General Meeting of the Company (“EGM”) to be held at the offices of Sprecher Grier Halberstam LLP, 30 Farringdon Street, London EC4A 4HJ on Thursday 17 January 2008 at 11.00 am. 
 
The special business to be proposed at the Extraordinary General Meeting is: 
 
1.	to effect a 1 for 5 consolidation of the Company’s existing ordinary shares; 
2.	to amend the Company’s Articles of Association; and
3.	the renewal by the Board of its authority to allot relevant securities to provide the Company with sufficient capacity to allot further shares over the relevant period.
 
Norseman also confirms that the Company’s Report and Accounts for the year ended 30 June 2007 have also been sent to shareholders today.
 
BACKGROUND TO AND REASONS FOR THE PROPOSED SHARE CONSOLIDATION
 
The Board considers that it is desirable to consolidate the existing ordinary shares of the Company (“Existing Ordinary Shares”) as this should assist in reducing the volatility in the Company’s share price, enabling a more consistent valuation of the Company. With shares of low denominations and the levels of trading, small absolute movements in the share price can represent large percentage movements resulting in volatility.  The Board also believes that the bid-offer spread on shares priced at low absolute levels can be disproportionate to the share price, to the detriment of Shareholders.  
 
DETAILS OF THE PROPOSED SHARE CONSOLIDATION
Upon implementation of the Share Consolidation, Shareholders on the register of members of the Company at the close of business on the record date, which is expected to be 17 January 2008, will exchange 5 Existing Ordinary Shares for 1 New Ordinary Share and so on in proportion for any other number of Existing Ordinary Shares then held. The proportion of the issued ordinary share capital of the Company held by each Shareholder following the Share Consolidation will, save for fractional entitlements, be unchanged.
Apart from the change in nominal value, the New Ordinary Shares arising on implementation of the Share Consolidation will have the same rights as the Existing Ordinary Shares, including voting, dividend and other rights. 
ADMISSION TO AIM
The Share Consolidation is conditional upon the New Ordinary Shares being admitted to AIM.  Application for such Admission will be made so as to enable the New Ordinary Shares to be admitted to trading on AIM as soon as practicable following the Record Date.  It is expected that Admission will become effective at 8.00 am on 18 January 2008, whereupon the Share Consolidation will be effective.
 
For further information please contact:
 
David Steinepreis			Norseman Gold plc			07913 402727
Romil Patel			Blue Oar Securities Plc			020 7448 4400
Guy Wilkes			Ocean Equities Ltd			020 7786 4370
Hugo de Salis			St Brides Media & Finance Ltd		020 7242 4477
 
END