The Company announces that, pursuant to the terms of an
agreement entered into with Barrick (PNG Exploration) Limited
in March 2010, Allied Gold has issued 1,369,649 ordinary
shares of 10p each in the Company (the "New Ordinary
Shares") to complete the Company's retention of its 100%
interest in the Big Tabur and Tatau Island licences.
Under the agreement announced on 1 March 2010, in addition to
an upfront AU$2.5 million payment, Allied Gold agreed to
issue AU$3 million in shares at a 10% premium to market based
on the Company's average closing price between 1 January 2010
and 30 June 2010 which equates to a current price of GBP1.39.
The issue of shares was to take place upon receipt of Papua
New Guinean Ministerial Consent, which has recently been
received.
Application to the UK Listing Authority and to London Stock
Exchange plc has been made for the New Ordinary Shares to be
admitted to the Official List and to trading on the main
market of London Stock Exchange plc. It is expected that
admission will become effective on 25
November 2011.
Following the issue of the New Ordinary Shares, the
Company's total issued and voting share capital will
consist of 204,260,080 ordinary shares.
Conti, +44 (0) 207 653 4000
Oriel Securities (Joint Corporate Broker) - Jonathan Walker / Michael Shaw / AshtonClanfield, +44 (0) 207 710 7600
Buchanan (Financial PR Advisor) - Bobby Morse / James Strong, +44 (0) 207 466 5000