Issue of Equity

RNS Number : 4724A

Alba Mineral Resources PLC

01 August 2008

 



ALBA MINERAL RESOURCES PLC ('ALBA' or the 'Company')

Issue of Equity

The Board of Alba announce that it has issued and allotted, credited as fully paid 5,000,000 new ordinary shares in the Company at a price of 1.0 pence per share to raise £50,000 (the 'Placing').  The proceeds of the Placing will provide additional working capital for the Company.

The new ordinary shares will rank pari passu with the existing ordinary shares.  Dealings in the new ordinary shares are expected to commence on AIM at 8:00 a.m. on 7 August 2008.

Further details of the Placing are set out below:-

Placee	Number of Alba shares issued and allotted pursuant to the Placing	Number of Alba Shares held subsequent to the Placing	Percentage interest in the enlarged issued share capital of Alba subsequent to the Placing
Regency Mines Plc (“Regency”)*	2,500,000	13,934,047	15.0%
Starvest plc (“Starvest”)	2,500,000	11,875,000	12.8%

* Michael Nott, a director of Alba, is also a director of Red Rock Resources Plc, an AIM listed Company of which Regency Mines Plc (also an AIM listed company) is a Substantial Shareholder

Issue of Options

Additionally, the Company has granted Regency and Starvest an option to subscribe for a further 2,500,000 each at a price of 1 pence per share at any time up until 31 March 2009.

TOTAL VOTING RIGHTS

Following the issue of equity and in conformity with the Financial Services Authority's Disclosure and Transparency Rules, the Company gives notice that its voting capital consists of:

Ordinary Shares	Nominal Value	£	Ordinary Shares held in Treasury
93,070,150	1p	930,701	–

 

As Alba does not hold any ordinary shares in Treasury its total number of voting rights equals its capital.

The above figure may be used by shareholders 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, Alba under the FSA's Disclosure and Transparency Rules.

Enquiries:

Michael Nott, Director                                           Tel: [phone]

Alba Mineral Resources Plc

Liam Murray, Nominated Adviser                        Tel: [phone]

Dowgate Capital Advisers Limited

 

END

 

 

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