El Oro Ltd

Announcements 2013

NAV announcement  |  Announced - 12 December 2013

El Oro Ltd. ("the Company") Registration No: 49778 of 1 Le Truchot, St Peter Port, Guernsey GY1 1WD.

Immediate Announcement:

Net Asset Value  
Valuation date 30 November 2013
Currency GBP
NAV 96.5 pence
Share Price (mid) 80.3 pence
Discount 16.8%


The Company’s Share Price can be found at www.cisx.com [ticker – ELX].

For further information, please contact:
C Robin Woodbine Parish: Chairman
Steven McKeane
El Oro Ltd.
Tel: 020 7581 2782

Dexion Capital (Guernsey) Limited
Gillian Newton
Tel: 01481 732814

Directors Shareholding  |  Announced - 26 November 2013

The Company has been informed of the following transactions in its ordinary shares by a Director of a subsidiary company (El Oro and Exploration Company Limited) on 18 and 21 November 2013 as follows:

Mr CRW Parish, an executive Director of the Company, on 18 November 2013 sold 118,605 ordinary shares in the Company at 82.5 pence per share, of which 103,605 ordinary shares were sold to the Company's Treasury Account. Additionally, a holding of 1,050 ordinary shares were also sold to the Company's Treasury Account from an Executor's holding.

Mrs EW Houston, a non-executive Director of the subsidiary company, on 21 November 2013 transferred 108,693 ordinary shares in the Company at 81.47 pence per share between family trusts.

Mr CRW Parish, an executive Director, on 21 November 2013 transferred 108,693 ordinary shares in the Company at 81.47 pence per share as a Trustee for family trusts.

Following this transaction:
Mr CRW Parish has a beneficial holding in the Company, following the notification of these transactions, of 6,260,641 ordinary shares representing 9.70% of the Company together with a non-beneficial holding of 10,550,318 ordinary shares representing 16.34% of the Company. This represents an interest of 26.04% in the total voting rights of the Company.

Mrs EW Houston has a beneficial holding in the Company, following the notification of these transactions, of 6,231,574 representing 9.65% of the Company together with a non-beneficial holding of 3,852,059 ordinary shares representing 5.97% of the Company. This represents an interest of 15.62% in the total voting rights of the Company.

Total voting rights:
The Company now holds 200,035 ordinary shares in Treasury. Accordingly, the current issued share capital (excluding Treasury Shares) consists of 64,457,305 ordinary shares with voting rights. Shareholders may use this figure as the denominator for the calculations by which they determine whether they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.

For further information, please contact:
C Robin Woodbine Parish: Chairman
Steven McKeane
El Oro Ltd.
Tel: 020 7581 2782

Dexion Capital (Guernsey) Limited
Gillian Newton
Tel: 01481 732814

Results of AGM  |  Announced - 21 November 2013

At the Fifth Annual General Meeting of the Company, held on 21 November 2013, all resolutions were approved and agreed:

Ordinary resolutions:

  • 1) To receive the Directors' report and the consolidated financial statements for the year ended 30 June 2013.
  • 2) To re-appoint PricewaterhouseCoopers CI LLP as Auditor of the Company, to hold office until the conclusion of the next General Meeting at which accounts are laid before the Company and to authorise the Directors to fix their remuneration.
  • 3) To authorise the payment of a final dividend of 3.6 pence for the year-ended 30 June 2013.
  • 4) To authorise the Company generally and unconditionally to make market purchases within the meaning of Section 315 of the Companies (Guernsey) Law 2008, the authority for market acquisitions set forth in Article 4.7 of the Company's Articles of Incorporation be approved and restated on the basis that of its Ordinary Shares in the capital of the Company ("Shares") upon or subject to the following conditions:
    • the maximum number of Shares hereby authorised to be purchased is 6,465,196;
    • the maximum price at which Shares may be purchased shall be 5% above the average of the middle market quotations for the Shares as taken from the Channel Islands Stock Exchange Daily Official List for the five business days preceding the date of purchase and the minimum price shall be 5 pence per share, in both cases exclusive of expenses; and
    • the authority to purchase conferred by this Resolution shall expire on the date falling eighteen months after the date of this resolution or at the conclusion of the next Annual General Meeting of the Company after the passing of this Resolution, save that the Company may before such expiry enter into a contract of purchase under which such contract may be completed or executed wholly or partly after the expiration of this authority.

Special Resolution

  • 5) To amend to amend Article 35.2 of the Company's articles of incorporation as shown below
  • "To give effect to any such sale the Directors may appoint any person to execute as transferor an instrument of transfer of the said shares and such instrument of transfer of the said shares shall be as effective as if it had been executed by the registered holder of, or person entitled by transmission to, such shares and the title of the purchaser or other transferee shall not be affected by any irregularity or invalidity in the proceedings relating thereto. The net proceeds of sale shall belong to and be an asset of the Company to be used in any manner in accordance with these Articles and, for the avoidance of doubt, upon completion of such sale the Company shall owe no debt or liability in respect of such shares to any former Member or such other person previously entitled to the shares. which shall be obliged to account to the former Member or other person previously entitled as aforesaid for an amount equal to such proceeds and shall enter the name of such former Member or other person in the books of the Company as a creditor for such amount. No trust shall be created in respect of the debt, no interest shall be payable in respect of the same and the Company shall not be required to account for any money earned on the net proceeds, which may be employed in the business of the Company or invested in such investments (other than shares of the Company) as the Directors may from time to time think fit."

For further information, please contact:
C Robin Woodbine Parish: Chairman
Steven McKeane
El Oro Ltd.
Tel: 020 7581 2782

Dexion Capital (Guernsey) Limited
Gillian Newton
Tel: 01481 732814

NAV announcement  |  Announced - 13 November 2013

El Oro Ltd. ("the Company") Registration No: 49778 of 1 Le Truchot, St Peter Port, Guernsey GY1 1WD.

Immediate Announcement:

Net Asset Value  
Valuation date 31 October 2013
Currency GBP
NAV 102.9 pence
Share Price (mid) 80.3 pence
Discount 22%


The Company’s Share Price can be found at www.cisx.com [ticker – ELX].

For further information, please contact:
C Robin Woodbine Parish: Chairman
Steven McKeane
El Oro Ltd.
Tel: 020 7581 2782

Dexion Capital (Guernsey) Limited
Gillian Newton
Tel: 01481 732814

NAV announcement  |  Announced - 11 October 2013

El Oro Ltd. ("the Company") Registration No: 49778 of 1 Le Truchot, St Peter Port, Guernsey GY1 1WD.

Immediate Announcement:

Net Asset Value  
Valuation date 30 September 2013
Currency GBP
NAV 101.9 pence
Share Price (mid) 80.5 pence
Discount 21%


The Company’s Share Price can be found at www.cisx.com [ticker – ELX].

For further information, please contact:
C Robin Woodbine Parish: Chairman
Steven McKeane
El Oro Ltd.
Tel: 020 7581 2782

Dexion Capital (Guernsey) Limited
Gillian Newton
Tel: 01481 732814

NAV announcement  |  Announced - 07 October 2013

El Oro Ltd. ("the Company") Registration No: 49778 of 1 Le Truchot, St Peter Port, Guernsey GY1 1WD.

Immediate Announcement:

Net Asset Value  
Valuation date 31 August 2013
Currency GBP
NAV 102.0 pence
Share Price (mid) 77.5 pence
Discount 24%


Please note that there was an adjustment to the 30 June 2013 and 31 July 2013 Net Asset Value following updated information in unlisted security valuations at 30 June: from 93.9 pence to 92.4 pence and from 98.1 pence to 96.6 pence respectively. These changes have now been reflected on the Company’s website.

The Company’s Share Price can be found at www.cisx.com [ticker – ELX].

For further information, please contact:
C Robin Woodbine Parish: Chairman
Steven McKeane
El Oro Ltd.
Tel: 020 7581 2782

Dexion Capital (Guernsey) Limited
Gillian Newton
Tel: 01481 732814

Annual Report at 30 June 2013  |  Announced - 03 October 2013

The Directors are pleased to announce the audited Financial Statements for the year ended 30 June 2013 for the Company.

The audited Financial Statements for the Company are attached to this announcement.

For further information, please contact:
C Robin Woodbine Parish: Chairman
Steven McKeane
El Oro Ltd.
Tel: 020 7581 2782

Dexion Capital (Guernsey) Limited
Gillian Newton
Tel: 01481 732814

Click here to download the document

Final Results - 30 June 2013  |  Announced - 03 October 2013

El Oro Ltd announces its final results for the year ended 30 June 2013.

Extracts from the final results are set out below.

For further information, please contact:
C Robin Woodbine Parish: Chairman
Steven McKeane
El Oro Ltd
Tel: 020 7581 2782

Dexion Capital (Guernsey) Limited
Gillian Newton
Tel: 01481 732814

Click here to download the document

NAV announcement  |  Announced - 22 August 2013

El Oro Ltd. ("the Company") Registration No: 49778 of 1 Le Truchot, St Peter Port, Guernsey GY1 1WD.

Immediate Announcement:

Net Asset Value  
Valuation date 31 July 2013
Currency GBP
NAV 96.6 pence
Share Price (mid) 77.5 pence
Discount 21%


The Company’s Share Price can be found at www.cisx.com [ticker – ELX].

For further information, please contact:
C Robin Woodbine Parish: Chairman
Steven McKeane
El Oro Ltd.
Tel: 020 7581 2782

Dexion Capital (Guernsey) Limited
Gillian Newton
Tel: 01481 732814

NAV announcement  |  Announced - 23 July 2013

El Oro Ltd. ("the Company") Registration No: 49778 of 1 Le Truchot, St Peter Port, Guernsey GY1 1WD.

Immediate Announcement:

Net Asset Value  
Valuation date 30 June 2013
Currency GBP
NAV 92.4 pence
Share Price (mid) 85 pence
Discount 9.5%


The Company’s Share Price can be found at www.cisx.com [ticker – ELX].

For further information, please contact:
C Robin Woodbine Parish: Chairman
Steven McKeane
El Oro Ltd.
Tel: 020 7581 2782

Dexion Capital (Guernsey) Limited
Gillian Newton
Tel: 01481 732814

Transaction in own shares - 04 July 2013

EL ORO LTD (the ‘Company’) announces that on 2 July 2013 it purchased 95,380 of its Ordinary shares of no par value, at the following price per share:

Number of Shares

95,380

Price (GBP)

75p

The GBP shares purchased will be held in Treasury. Following the above purchase, the Company holds 95,380 Ordinary shares in Treasury. Following the above purchase, the total number of Ordinary shares in issue (excluding treasury shares) is 64,561,960.

Accordingly, with effect from 10 July 2013, the issued share capital will consist of 64,561,960 Ordinary shares with voting rights. Shareholders may use this figure as the denominator for the calculations by which they determine whether they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.

ISIN:
Sterling Shares:  GG00B77Q7194

For further information, please contact:
C Robin Woodbine Parish: Chairman
Steven McKeane
El Oro Ltd.
Tel: 020 7581 2782

Dexion Capital (Guernsey) Limited
Gillian Newton
Tel: 01481 732814

NAV announcement  |  Announced - 14 June 2013

El Oro Ltd. ("the Company") Registration No: 49778 of 1 Le Truchot, St Peter Port, Guernsey GY1 1WD.

Immediate Announcement:

Net Asset Value  
Valuation date 31 May 2013
Currency GBP
NAV 98.8 pence
Share Price (mid) 85.5 pence
Discount 13.5%


The Company’s Share Price can be found at www.cisx.com [ticker – ELX].

For further information, please contact:
C Robin Woodbine Parish: Chairman
Steven McKeane
El Oro Ltd.
Tel: 020 7581 2782

Dexion Capital (Guernsey) Limited
Gillian Newton
Tel: 01481 732814

Directors Shareholding  |  Announced - 07 June 2013

The Company has been informed of the following transactions in its ordinary shares by a Director of a subsidiary company (El Oro and Exploration Company Limited) on 28 May 2013 as follows:

Mrs EW Houston, a non-executive Director of the subsidiary company, transferred 39,000 ordinary shares in the Company at 86.5 pence per share between family trusts.

The Company has been informed of the following transactions in its ordinary shares by a Director on 3 June 2013 as follows:

Mr CRW Parish, an executive Director purchased 4,500 ordinary shares in the Company at 85.75 pence per share as a Trustee for a family trust.

Following this transaction:
Mr CRW Parish has a beneficial holding in the Company, following the notification of these transactions, of 6,379,246 ordinary shares representing 9.87% of the Company together with a non-beneficial holding of 10,658,211 ordinary shares representing 16.48% of the Company. This represents an interest of 26.35% in the total voting rights of the Company.

Mrs EW Houston has a beneficial holding in the Company, following the notification of these transactions, of 6,123,681 representing 9.47% of the Company together with a non-beneficial holding of 3,959,952 ordinary shares representing 6.12% of the Company. This represents an interest of 15.60% in the total voting rights of the Company.

For further information, please contact:
C Robin Woodbine Parish: Chairman
Steven McKeane
El Oro Ltd.
Tel: 020 7581 2782

Dexion Capital (Guernsey) Limited
Gillian Newton
Tel: 01481 732814

NAV announcement  |  Announced - 17 May 2013

El Oro Ltd. ("the Company") Registration No: 49778 of 1 Le Truchot, St Peter Port, Guernsey GY1 1WD.

Immediate Announcement:

Net Asset Value  
Valuation date 30 April 2013
Currency GBP
NAV 100.6 pence
Share Price (mid) 87 pence
Discount 13.5%


The Company’s Share Price can be found at www.cisx.com [ticker – ELX].

For further information, please contact:
C Robin Woodbine Parish: Chairman
Steven McKeane
El Oro Ltd.
Tel: 020 7581 2782

Dexion Capital (Guernsey) Limited
Gillian Newton
Tel: 01481 732814

Directors Shareholding  |  Announced - 19 April 2013

On 17 April 2013 the Company was informed of the following transaction in its ordinary shares by a Director as follows:

Mr RE Wade a non-executive Director of the Company bought 10,000 ordinary shares in the Company at 90.27 pence per share.

Mr RE Wade has a beneficial holding in the Company following the notification of this transaction, of 505,150 ordinary shares representing 0.78% of the Company. This represents an interest of 0.78% in the total voting rights of the Company.

For further information, please contact:
C Robin Woodbine Parish: Chairman
Steven McKeane
El Oro Ltd.
Tel: 020 7581 2782

Dexion Capital (Guernsey) Limited
Gillian Newton
Tel: 01481 732814

NAV announcement  |  Announced - 16 April 2013

El Oro Ltd. ("the Company") Registration No: 49778 of 1 Le Truchot, St Peter Port, Guernsey GY1 1WD.

Immediate Announcement:

Net Asset Value  
Valuation date 31 March 2013
Currency GBP
NAV 109.1 pence
Share Price (mid) 96.5 pence
Discount 11.5%


The Company’s Share Price can be found at www.cisx.com [ticker – ELX].

For further information, please contact:
C Robin Woodbine Parish: Chairman
Steven McKeane
El Oro Ltd.
Tel: 020 7581 2782

Dexion Capital (Guernsey) Limited
Gillian Newton
Tel: 01481 732814

Interim Results - 31 December 2012  |  Announced - 11 April 2013

El Oro Ltd announces its interim results for the six months ended 31 December 2012.

The interim results for the six months ended 31 December 2012 will be posted to shareholders and will be available shortly on the Company's website.

Extracts from the interim results are set out below.

For further information, please contact:
C Robin Woodbine Parish: Chairman
Steven McKeane
El Oro Ltd
Tel: 020 7581 2782

Click here to download the document

Directors Shareholding  |  Announced - 08 April 2013

The Company has been informed of the following transactions in its ordinary shares by a Director of a subsidiary company (El Oro and Exploration Company Limited) on 4 April 2013 as follows:

Mrs EW Houston, a non-executive Director of the subsidiary company, transferred 39,800 ordinary shares in the Company at £0.94 per share between family trusts.

Dealing within a close period is permitted under CISX Model Code Appendix VI.2(f) where the beneficial interest in the relevant security of the Company does not change.

Following this transaction:
Mr CRW Parish has a beneficial holding in the Company, following the notification of these transactions, of 6,379,246 ordinary shares representing 9.87% of the Company together with a non-beneficial holding of 10,614,711 ordinary shares representing 16.42% of the Company. This represents an interest of 26.29% in the total voting rights of the Company.

Mrs EW Houston has a beneficial holding in the Company, following the notification of these transactions, of 6,162,681 representing 9.53% of the Company together with a non-beneficial holding of 3,920,952 ordinary shares representing 6.06% of the Company. This represents an interest of 15.59% in the total voting rights of the Company.

For further information, please contact:
C Robin Woodbine Parish: Chairman
Steven McKeane
El Oro Ltd.
Tel: 020 7581 2782

Dexion Capital (Guernsey) Limited
Gillian Newton
Tel: 01481 732814

NAV announcement  |  Announced - 08 March 2013

El Oro Ltd. ("the Company") Registration No: 49778 of 1 Le Truchot, St Peter Port, Guernsey GY1 1WD.

Immediate Announcement:

Net Asset Value  
Valuation date 28 February 2013
Currency GBP
NAV 115.7 pence
Share Price (mid) 95.5 pence
Discount 17.5%


The Company’s Share Price can be found at www.cisx.com [ticker – ELX].

For further information, please contact:
C Robin Woodbine Parish: Chairman
Steven McKeane
El Oro Ltd.
Tel: 020 7581 2782

Dexion Capital (Guernsey) Limited
Gillian Newton
Tel: 01481 732814

NAV announcement  |  Announced - 14 February 2013

El Oro Ltd. ("the Company") Registration No: 49778 of 1 Le Truchot, St Peter Port, Guernsey GY1 1WD.

Immediate Announcement:

Net Asset Value  
Valuation date 31 January 2013
Currency GBP
NAV 119.0 pence
Share Price (mid) 98.0 pence
Discount 17.6%


The Company’s Share Price can be found at www.cisx.com [ticker – ELX].

For further information, please contact:
C Robin Woodbine Parish: Chairman
Steven McKeane
El Oro Ltd.
Tel: 020 7581 2782

Dexion Capital (Guernsey) Limited
Gillian Newton
Tel: 01481 732814

Directors Shareholding  |  Announced - 29 January 2013

On 19 November the Company was informed of the following transaction in its ordinary shares by a Director as follows:

Mr RE Wade a non-executive Director of the Company bought 15,880 ordinary shares in the Company at 98.0 pence per share.

Mr RE Wade has a beneficial holding in the Company following the notification of this transaction, of 495,150 ordinary shares representing 0.77% of the Company. This represents an interest of 0.77% in the total voting rights of the Company.

For further information, please contact:
C Robin Woodbine Parish: Chairman
Steven McKeane
El Oro Ltd.
Tel: 020 7581 2782

Dexion Capital (Guernsey) Limited
Gillian Newton
Tel: 01481 732814

Directors Shareholding  |  Announced - 23 January 2013

The Company has been informed of the following transactions in its ordinary shares by a Director of the Company on 9 January 2013 as follows:

Mr CRW Parish, an executive Director of the Company, on 9 January 2013 purchased 7,000 ordinary shares in the Company at £0.98 per share.

Following this transaction:
Mr CRW Parish has a beneficial holding in the Company, following the notification of these transactions, of 6,379,246 ordinary shares representing 9.87% of the Company together with a non-beneficial holding of 10,654,511 ordinary shares representing 16.48% of the Company. This represents an interest of 26.34% in the total voting rights of the Company.

For further information, please contact:
C Robin Woodbine Parish: Chairman
Steven McKeane
El Oro Ltd.
Tel: 020 7581 2782

Dexion Capital (Guernsey) Limited
Gillian Newton
Tel: 01481 732814

NAV announcement  |  Announced - 23 January 2013

El Oro Ltd. ("the Company") Registration No: 49778 of 1 Le Truchot, St Peter Port, Guernsey GY1 1WD.

Immediate Announcement:

Net Asset Value  
Valuation date 31 December 2012
Currency GBP
NAV 115.7 pence
Share Price (mid) 98.0 pence
Discount 15.3%


The Company’s Share Price can be found at www.cisx.com [ticker – ELX].

For further information, please contact:
C Robin Woodbine Parish: Chairman
Steven McKeane
El Oro Ltd.
Tel: 020 7581 2782

Dexion Capital (Guernsey) Limited
Gillian Newton
Tel: 01481 732814

Change of Registrar  |  Announced - 10 January 2013

The board of El Oro Ltd announces that with effect 7 January 2013 the Company has transferred the management of its share register from Capita Registrars to Computershare Investor Services (Guernsey) Limited.

Effective 8 January 2013, the Company confirms that new share certificates have been issued by Computershare Investor Services (Guernsey) Limited and all previously issued certificates by Capita Registrars are null and void.

For further information, please contact:
Computershare Investor Services (Guernsey) Limited
Shareholder helpline
Tel: 0870 707 4040

C Robin Woodbine Parish: Chairman
Steven McKeane
El Oro Ltd.
Tel: 020 7581 2782

Dexion Capital (Guernsey) Limited
Gillian Newton
Tel: 01481 732814

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