Exercise of Share Warrants

RNS Number : 1642U

Alba Mineral Resources PLC

13 January 2017

 

 Alba Mineral Resources plc

("Alba" or the "Company")

Exercise of Share Warrants

Alba Mineral Resources plc (AIM: ALBA) is pleased to announce that it has received notices to exercise share warrants from a number of warrant holders holding warrants with an exercise price of 0.3p per share.  The total number of share warrants exercised was 51,143,650 for total proceeds to the Company of £153,430.95. 

Admission to AIM

Application will be made for the new ordinary shares from the exercise of these share warrants to be admitted to trading on AIM ("Admission").  It is expected that Admission will become effective at 8.00 a.m. on 19 January 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. 

Total Voting Rights

Following Admission, the total number of ordinary shares in issue will be 1,868,215,250. The Company does not hold any ordinary shares in treasury. Therefore, the total number of ordinary shares with voting rights will be 1,868,215,250. 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 Michael Nott, CEO	[phone]
Cairn Financial Advisers LLP James Caithie / Liam Murray	[phone]
Dowgate Capital Stockbrokers Limited Jason Robertson / Neil Badger	[phone]

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 is also earning a 5% interest in Production Licence 235, which comprises the producing onshore Brockham Oil Field.

Alba has earned the right to a 49 per cent interest in the Amitsoq Graphite Project in Southern Greenland and has agreed to acquire a further 41 per cent interest in the Project, subject to Greenlandic regulatory approvals.

In addition, the Company has recently renewed its Limerick base metal licence in the Republic of Ireland.  The Company 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 numerous 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.

 

END

 

 

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