The Company announces that it has issued a total of 4,300,002 warrants to Peter Kingston, Peter Blakey, Peter Taylor, Mark Savage, Jeremy Asher and Marilyn Hill, General Manager of the Ugandan operations, as detailed below:-

NameWarrantsExercise PriceDate from which the warrants are exercisableExpiry of warrants
Peter Kingston1,500,0003p20 April 201020 April 2012
Peter Blakey833,3343p20 April 201020 April 2012
Peter Taylor833,3343p20 April 201020 April 2012
Mark Savage400,0003p20 April 201020 April 2012
Jeremy Asher400,0003p20 April 201020 April 2012
Marilyn Hill333,3343p20 April 201020 April 2012

The warrant exercise price was determined by the Board of the Company in reference to the placing price of the placing of 42,883,334 shares announced on 21 April 2009. These warrants were issued in lieu of fees waived by directors, to reduce overhead cost to working capital, since November 2008 and to be foregone until end October 2009. The fees foregone are summarised below (£):-

NameNov 08 – Apr 09May – Oct 09Total
Peter Kingston15,00030,00045,000
Peter Blakey12,50012,50025,000
Peter Taylor12,50012,50025,000
Mark Savage6,0006,00012,000
Jeremy Asher6,0006,00012,000
Marilyn Hill10,00010,000