Alba Mineral Resources PLC Issue of Equity (1365K)
September 19 2016 - 2:01AM
UK Regulatory
TIDMALBA
RNS Number : 1365K
Alba Mineral Resources PLC
19 September 2016
19 September 2016
Alba Mineral Resources plc
("Alba" or "the Company")
Placing to raise GBP900,000
Alba Mineral Resources plc (AIM: ALBA), the UK-based exploration
company, is pleased to announce that it has raised GBP900,000
(before expenses) through the issue of 450,000,000 new ordinary
shares at a price of 0.2 pence per ordinary share (the "Placing"),
conditional on the admission of such new ordinary shares to trading
on AIM ("Admission"). The Placing was oversubscribed.
The placing proceeds will be principally used to advance the
Company's interests across its existing portfolio of assets in the
onshore UK oil and gas sector (Horse Hill and Brockham), its mining
exploration portfolio in Greenland (graphite), Ireland (base
metals/gold) and Mauritania (uranium), for the evaluation of
further project or investment opportunities and for general working
capital purposes.
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 2016. 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.
Total Voting Rights
Following Admission, the total number of ordinary shares in
issue will be 1,810,578,093. The Company does not hold any ordinary
shares in treasury. Therefore, the total number of ordinary shares
with voting rights will be 1,810,578,093. 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:
+44 20 7264
Alba Mineral Resources Plc 4366
Michael Nott, CEO
+44 20 7148
Cairn Financial Advisers LLP 7900
James Caithie/Liam Murray
Dowgate Capital Stockbrokers Limited +44 1293 517744
Jason Robertson / Neil Badger
About ALBA
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.
Alba also has exercised an option to farm into 5% of Production
Licence 235, which comprises the onshore Brockham Oil Field.
Alba has the right to earn up to 70 per cent of the Amitsoq
Graphite Project in Southern Greenland. In addition, the Company
has recently renewed its base metal and gold licence in the
Republic of Ireland, and has applied for the reissue of a uranium
permit in northern Mauritania. The new Mauritanian permit will be
on a reduced area, and is centred on known uranium-bearing
showings.
Alba continues actively to review and discuss other project
opportunities which have value enhancing potential for the Company
whether by acquisition, farm in or joint venture in a range of
jurisdictions around the world.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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September 19, 2016 02:01 ET (06:01 GMT)
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