Issue of Equity

RNS Number : 0778M

Alba Mineral Resources PLC

01 May 2015

 

1 May 2015

Alba Mineral Resources plc

("Alba" or "the Company")

Issue of Equity

Alba Mineral Resources plc (AIM:ALBA), the UK based minerals and oil exploration company, announces that it has issued 18,000,000 new ordinary shares at a price of 0.5 pence per ordinary share in settlement of fees for professional services.

Application has been made for the new ordinary shares to be admitted to trading on AIM ("Admission").  It is expected that Admission will become effective and trading in the 18,000,000 new ordinary shares will commence at 8.00 a.m. on 11 May 2015.  The new ordinary shares will be issued credited as fully paid and will rank pari passu in all respects with the Company's existing ordinary shares.  

Following Admission, the total number of ordinary shares in issue will be 720,547,002. The Company does not hold any ordinary shares in treasury.  Therefore, the total number of ordinary shares with voting rights will be 720,547,002.  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.

Enquiries:

Alba Mineral Resources Plc	020 3696 4616
Michael Nott, CEO
Cairn Financial Advisers LLP (Nominated Adviser)	020 7148 7900
Avi Robinson / James Caithie
Dowgate Capital Stockbrokers Limited (Broker)	01293 517744
Jason Robertson

Notes to Editors:

Alba holds interests in Mauritania (uranium: JV with FOSSE Investments Limited) and Ireland (base metals) and a 10 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 (Licence PEDL 137).  The projects are at different stages of development.  The Mauritania uranium project comprises early phase exploration targets, whereas drilling has been undertaken on the Irish base metals project. The Horse Hill-1 well was recently drilled, targeting a number of conventional stacked oil and gas targets. The final depth of the drill hole was 8770 feet and the review of the results continues.

Please refer to our recent announcements, available at www.albamineralresources.com.

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.

 

END

 

 

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