Investee Company Update: GreenRoc Mining plc

RNS Number : 8328R

Alba Mineral Resources PLC

08 July 2022

 

08 July 2022    

Alba Mineral Resources plc

("Alba" or the "Company")

Investee Company Update: GreenRoc Mining plc

Alba Mineral Resources plc (AIM: ALBA) is pleased to note the announcement today by its portfolio company, GreenRoc Mining plc ("GreenRoc") (AIM: GROC).  Alba holds a 54% majority interest in GreenRoc. The announcement is set out below without material changes.    

GreenRoc Mining plc

("GreenRoc" or the "Company")

Grant of Share Options

GreenRoc Mining Plc (AIM: GROC), a company focused on the development of critical mineral projects in Greenland, announces the grant on 8 July 2022 of 1,000,000 share options over ordinary shares in the Company ("Options") to Stefan Bernstein, Chief Executive Officer of the Company, as follows:

Option Award

Director / Senior Management	New Options	Exercise price	Vesting Date	Total Options Granted
Mr Stefan Bernstein	333,333	10 pence	1 July 2023
	333,333	10 pence	1 July 2024
	333,334	10 pence	1 July 2025
Total	1,000,000			1,000,000

The Options are awarded subject to the terms, conditions and rules set out in the Greenroc Mining Plc Long Term Incentive Plan (the "LTIP Rules").

Subject as aforesaid, the Options shall be exercisable at the exercise price and from the vesting dates set out above, unless an earlier event occurs to cause them to become exercisable or to lapse under the LTIP Rules.

The Options shall lapse on 28 September 2026, to the extent they are not exercised before then and provided no event occurs to cause them to lapse earlier under the LTIP Rules.

The Options granted represent approximately 0.9% of the current issued share capital of the Company. On a fully diluted basis the Options represent approximately 0.9% of the enlarged issued share capital of the Company (assuming the Options are exercised in full and no additional ordinary shares are issued save for those in connection with such exercise).

**ENDS**

For further information, please visit   www.albamineralresources.com   or contact:    

Alba Mineral Resources plc    

George Frangeskides, Executive Chairman    [phone] 

SPARK Advisory Partners Limited (Nomad)   

Andrew Emmott  [phone] 

ETX Capital (Broker)   

Thomas Smith  [phone] 

St Brides Partners (Financial PR)    

Isabel de Salis / Catherine Leftley    [e-mail] 

Alba's Projects and Investments    

Mining Projects Operated by Alba	Location	Ownership
Clogau (gold)	Wales	90%
Dolgellau Gold Exploration (gold)	Wales	90-100%
Gwynfynydd (gold)	Wales	100%
Limerick (zinc-lead)	Ireland	100%
Investments Held by Alba	Location	Ownership
GreenRoc Mining Plc (mining)	Greenland	54%
Horse Hill (oil)	England	11.765%

 

END

 

 

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