Goldstone Resources Ltd – Directorate Change

Goldstone Resources Ltd – Directorate Change

GoldStone Resources Limited (AIM: GRL) announces that Richard Lloyd, a Non-executive Director of the Company, has resigned as a director with immediate effect to focus on his other business ventures.  The Board would like to thank Mr Lloyd for his valued contribution and guidance, and we wish him every success in the future.

The Board is seeking to appoint another independent Non-executive Director with experience applicable to the direction of the Company and a further announcement will be made in due course.

Further to the announcement of 28 December 2018 regarding the accrual of a proportion of the Company's directors' fees, the Board has agreed to settle accrued and deferred fees of, in aggergate, £5,750 owed to Mr Lloyd through the issue of 342,262 ordinary shares of 1 pence each in the capital of the Company ("Ordianry Shares"), based on a share price of 1.68p, being the mid market closing price of Goldstone's Ordinary Shares on 1 August 2019, being the latest practible date prior to this announcement.

Total voting rights

Application will be made for the Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or around 8 August 2019.

Upon Admission, the Company's issued share capital will consist of 250,050,253 Ordinary Shares with one voting right each.  The Company does not hold any Ordinary Shares in treasury.  Therefore, the total number of Ordinary Shares and voting rights in the Company will be 250,050,253.  With effect from Admission, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Following Admisison, Mr Lloyd will be interested in 1,473,038 Ordinary Shares representing 0.6% of the Company then enlarged share capital.

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