Issue of Shares

RNS Number : 1571F

Anglo Asian Mining PLC

07 January 2010

 



Anglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining

7 January 2010

Anglo Asian Mining plc ('Anglo Asian' or 'the Company')

Issue of shares 

Anglo Asian Mining plc, the AIM listed emerging gold producer, announces that the following Ordinary Shares have been issued to Directors in lieu of salary/fees for the period 1 October 2009 to 31 December 2009, using the closing share price on 31 December 2009 of 9p. 

The Directors have chosen to take shares in lieu of salary/fees and expenses in order to preserve the cash in the Company for working capital at the Gedabek gold/copper mine in Azerbaijan.

	Number of Ordinary Shares awarded	Resulting number of Ordinary Shares held	% holding of Ordinary Shares with voting rights
John Monhemius	55,556	55,556	0.05
John Sununu	604,188	10,674,540	9.74
Khosrow Zamani	38,981	243,184	0.22
Richard Round	32,937	213,958	0.20
Total	731,662

In addition, 101,150 shares were issued to an employee of the company in lieu of salary.

Application will be made for the new Ordinary Shares of Anglo Asian Mining PLC to be admitted to trading on AIM. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares in the Company and trading of these shares on AIM is expected to commence on 11 January 2009.

The total number of Ordinary Shares with voting rights following this issue is 109,550,137.

**ENDS**

For further information please visit www.aamining.com or contact:

Reza Vaziri	Anglo Asian Mining plc	Tel: [phone]
Andrew Herbert	Anglo Asian Mining plc	Tel: [phone]
John Harrison	Numis Securities Limited, as Nominated Adviser	Tel: [phone]
James Black	Numis Securities Limited, as Corporate Broker	Tel: [phone]
Hugo de Salis	St Brides Media & Finance Ltd	Tel: [phone]
Felicity Edwards	St Brides Media & Finance Ltd	Tel: [phone]

Notes:

Anglo Asian Mining plc (AIM:AAZ) is an emerging gold producer in Central Asia with a broad portfolio of production and exploration assets in Azerbaijan. The Company has a 1,962 sq km prospective exploration portfolio, assembled on the back of analysis of historic Soviet geological data and held under a Production Sharing Agreement ('PSA') based on the Azeri oil industry. The Company developed Azerbaijan's first operating gold/copper mine, Gedabek, which commenced gold production in May 2009 and is targeted to produce in excess of 300,000 oz gold in the first six years of production.  

Anglo Asian is actively looking to exploit its first mover advantage in Azerbaijan to identify additional projects, as well as looking for other properties in Central Asia and Caucasia in order to fulfil its expansion ambitions and become a mid-tier gold and base metal production company focussed in these regions. 

 

END

 

 

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