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SOLGOLD PLC ORD (SLGGF) is a leading resources company dedicated to the discovery, definition, and development of world-class copper and gold deposits. The company focuses on the efficient delivery of shareholder objectives, along with value creation and economic benefits for impacted communities. SolGold is committed to operating transparently and in line with international best practices while ensuring shareholder value and promoting social and environmental responsibility.
Recently, SolGold made significant progress with the signing of the Complementary Investment Protection Agreement for the Cascabel Project in Ecuador, representing the largest mining investment in the country's history. The agreement includes a commitment to invest $3.2 billion over subsequent years, highlighting the Company's dedication to the project and its partnership with the Ecuadorian government.
The signing of the Exploitation Contract for the Cascabel Project further solidifies SolGold's position, setting legal and financial terms for the project's development. This milestone underscores the company's commitment to sustainable growth, shared prosperity, and responsible mining in Ecuador. SolGold's extensive exploration efforts have led to the discovery of one of the world's largest copper-gold porphyry deposits, showcasing the project's potential to boost the Ecuadorian economy and drive regional development.
SolGold PLC has reported a change in significant shareholder voting rights, with BlackRock Inc. crossing the 5% threshold on 27-Aug-2021. As of this date, BlackRock holds 4.61% of voting rights through direct shares and an additional 0.39% via financial instruments, totaling 5%. This is a change from their previous position of below 5% in earlier notifications. The formal notification to the issuer occurred on 30-Aug-2021, emphasizing BlackRock's increasing stake in SolGold.
On August 24, 2021, SolGold PLC reported a significant change in the voting rights held by BlackRock, Inc. The investment firm has crossed a threshold, now owning below 5% of the company's voting rights. Previously, BlackRock held around 5% with a detailed breakdown of voting rights and financial instruments involved. The notification of this change was made on August 24, 2021, and further information regarding the controlling chains of BlackRock entities was shared, clarifying their investment structure.
On August 19, 2021, SolGold PLC disclosed a significant shareholder notification from BlackRock, Inc., which has acquired a total of 5% voting rights in the company. This includes 4.74% from direct holdings and 0.26% from financial instruments. The threshold was crossed on August 18, 2021, marking a notable change from BlackRock's prior status of below 5%. This acquisition may signal increased institutional interest in SolGold's shares.
On August 12, 2021, SolGold PLC announced a notification regarding the voting rights of BlackRock, Inc. The investment firm reached below a 5% threshold of voting rights in the company on August 11, 2021, down from a previous position of 5.01%. BlackRock's holdings now include various entities under its umbrella, reflecting a significant change in its influence over SolGold's corporate governance. This notification aligns with compliance regulations concerning major holdings in publicly traded companies.
SolGold announces the Ecuadorian government's Executive Decree No. 151, unveiled by President Guillermo Lasso on August 5, 2021. This decree outlines a new mining policy aimed at fostering a secure and environmentally responsible mining industry to attract investment. It emphasizes adherence to mining rights and the eradication of illegal mining, promoting legal mining's economic benefits. SolGold's Vice President, Andrew Taunton, welcomed the initiative, emphasizing its potential for economic growth and job creation in rural communities, reinforcing the strategic importance of mining to Ecuador’s development.
On August 4, 2021, SolGold PLC announced that BlackRock, Inc. crossed a major equity threshold, now holding a total of 5.01% of voting rights in the company. This includes 4.48% through direct shares and 0.53% via financial instruments. The notification follows the acquisition of voting rights on August 3, 2021, marking an increase from BlackRock's previous holdings of below 5%. The transaction reflects BlackRock's increasing influence in the company, with total direct voting rights amounting to 102,916,857.
On July 21, 2021, BlackRock, Inc. reported that it crossed a significant threshold concerning its voting rights in SolGold PLC, now holding less than 5%. The notification follows its reduction from a previous position of 4.92% as of July 20, 2021. BlackRock's holdings are essential to monitor, as this change may indicate shifts in stakeholder confidence or strategic positioning within the company.
SolGold has announced that as of June 30, 2021, it has an issued share capital of 2,293,816,433 ordinary shares with voting rights. The company does not hold any treasury shares. The total number of voting rights now stands at 2,293,816,433, providing shareholders with a figure to assess any changes in their interests. This announcement satisfies the company’s obligations under the Disclosure Guidance and Transparency Rules. The press release was approved by Dennis Wilkins, Company Secretary.
SolGold announced the sale of 300,000 shares by Non-Executive Director Nicholas Mather, representing less than 0.5% of his total holdings. The sale, finalized on June 16 & 17, 2021, was conducted to fulfill philanthropic obligations to support prostate cancer research, mental health initiatives, and emergency services in Australia. Mather emphasized that the sale does not reflect a negative outlook on SolGold's value or growth. The shares were sold at an average price of 30.71p, totaling approximately £92,147.05.
SolGold has issued 1,500,000 new ordinary shares following the exercise of employee share options at 25p each, with admission to the London Stock Exchange expected on June 15, 2021. The total number of issued shares will rise to 2,293,816,432. Alongside these shares, the company has options totaling 106,875,000. SolGold continues to focus on exploring and developing copper and gold resources in Ecuador, holding a significant interest in the Cascabel concession and maintaining strong operations in the region.
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