Warrant exercise and issue of equity

RNS Number : 8114M

Alba Mineral Resources PLC

02 August 2017

 

Alba Mineral Resources plc

("Alba" or the "Company")

Exercise of share warrants and issue of equity

Alba Mineral Resources plc (AIM: ALBA) announces that it has received a notice to exercise share warrants with an exercise price of 0.3p per share.  The total number of share warrants exercised was 5,000,000 for total proceeds to the Company of £15,000. 

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 7 August 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 1,887,871,089. The Company does not hold any ordinary shares in treasury. Therefore, the total number of ordinary shares with voting rights will be 1,887,871,089. 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 George Frangeskides (Executive Chairman)	[phone]
Cairn Financial Advisers LLP James Caithie / Liam Murray	[phone]
Dowgate Capital Stockbrokers Limited Jason Robertson / Neil Badger	[phone]

Alba's Project Portfolio

Oil & Gas

Horse Hill (Oil & Gas, UK): 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.

Brockham (Oil & Gas, UK): Alba has a direct 5 per cent interest in Production Licence 235, which comprises the previously producing onshore Brockham Oil Field.

Mining

Amitsoq (Graphite, Greenland):  Alba owns a 90 per cent interest in the Amitsoq Graphite Project in Southern Greenland and has an option over the remaining 10 per cent. 

Black Sands (Ilmenite, Greenland):  Alba owns 100 per cent of mineral exploration licence 2017/29 in the Thule region, North-West Greenland.

Limerick (Base Metals, Ireland): Alba has 100 per cent of the Limerick base metal project in the Republic of Ireland.

El Mreiti (Uranium, Mauritania): Alba has applied for the reissue of a uranium permit in northern Mauritania, centred on known uranium-bearing showings.

Alba continues actively to review numerous other project opportunities which have value-enhancing potential for the Company whether by bolt-on or stand-alone acquisition, farm in or joint venture.

Web: www.albamineralresources.com

 

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