TIDMALBA
RNS Number : 1352S
Alba Mineral Resources PLC
28 September 2017
Alba Mineral Resources plc
("Alba" or "the Company")
Share allotments Correcting announcement
The Company's announcement of 28 September 2017 in respect of a
notification of share allotments incorrectly stated the issue price
of the shares allotted as 0.04 pence per share. This should have
read 0.4 pence per share.
The full amended announcement is shown below and all other
details contained in the announcement remain unchanged.
Alba Mineral Resources plc
("Alba" or "the Company")
Share allotments
Alba Mineral Resources plc (AIM: ALBA), the UK-based exploration
company, announces that Executive Chairman George Frangeskides and
Non-Executive Director Michael Nott have each subscribed for
7,500,000 ordinary shares in the Company, for a total subscription
price of GBP60,000. These directors were not able to participate in
the Company's last placing (announced on 25 August 2017) due to
normal market rules, however they now do so on the same terms as
the placing, namely at a price of 0.4 pence per share.
The Company has also agreed to settle certain
transaction-related fees and consultants' fees by the issue of a
total of 4,760,750 fully paid ordinary shares, also at a price of
0.4 pence per share.
Admission to AIM
Application will be made for the new ordinary shares to be
admitted to trading on AIM ("Admission"). It is expected that
Admission will become effective at 8.00 a.m. on 3 October 2017. The
new ordinary shares will be issued credited as fully paid and will
rank in full for all dividends and other distributions declared,
made or paid after Admission and will otherwise rank on Admission
pari passu in all respects with the existing ordinary shares.
Related Party Transactions
The subscriptions described above by George Frangeskides and
Michael Nott are deemed to be related party transactions for the
purposes of Rule 13 of the AIM Rules. Mr Manuel Lamboley, being the
sole independent director of the Company for the purposes of the
awards, considers, having consulted with the Company's Nominated
Adviser, that the subscriptions are fair and reasonable in so far
as the Shareholders are concerned.
Total Voting Rights
Following Admission, the total number of ordinary shares in
issue will be 2,173,881,839. The Company does not hold any ordinary
shares in treasury. Therefore, the total number of ordinary shares
with voting rights will be 2,173,881,839. 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 Financial Conduct
Authority's Disclosure and Transparency Rules.
For further information, please contact:
Alba Mineral Resources plc
George Frangeskides (Executive Chairman) Tel: +44 20 7264
4366
Cairn Financial Advisers LLP (Nomad)
James Caithie/Liam Murray Tel: +44 20 7213 0880
Dowgate Capital Stockbrokers Ltd (Broker)
Jason Robertson / Neil Badger Tel: +44 1293 517744
Alba's Project Portfolio
Oil & Gas
Horse Hill (Oil & Gas, UK): Alba holds a 15 per cent
interest in Horse Hill Developments Limited, the company which has
a 65 per cent participating interest and operatorship of the Horse
Hill oil and gas project (licences PEDL 137 and PEDL 246) in the UK
Weald Basin.
Brockham (Oil & Gas, UK): Alba has a direct 5% interest in
Production Licence 235, which comprises the previously producing
onshore Brockham Oil Field.
Mining
Amitsoq (Graphite, Greenland): Alba owns a 90 per cent interest
in the Amitsoq Graphite Project in Southern Greenland and has an
option over the remaining 10 per cent.
Black Sands (Ilmenite, Greenland): Alba owns 100 per cent of
mineral exploration licences 2017/29 and 2017/39 in the Thule
region, north-west Greenland.
Melville Bay (Iron Ore, Greenland): Alba is entitled to a 51 per
cent interest in mineral exploration licence 2017/41 in Melville
Bay, north-west Greenland. The licence area benefits from an
existing inferred JORC resource of 67 Mt @ 31.4% Fe.
Inglefield Land (Copper, Cobalt, Gold): Alba owns 100 per cent
of mineral exploration licence 2017/40 in north-west Greenland.
Limerick (Base Metals, Ireland): Alba has 100 per cent of the
Limerick base metal project in the Republic of Ireland.
El Mreiti (Uranium, Mauritania): Alba has applied for the
reissue of a uranium permit in northern Mauritania, centred on
known uranium-bearing showings.
Alba continues actively to review numerous other project
opportunities which have value-enhancing potential for the Company
whether by bolt-on or stand-alone acquisition, farm in or joint
venture.
Web: www.albamineralresources.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
IOEZMGZLFRRGNZM
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