Loan to employee

RNS Number : 8732Q

Anglo Asian Mining PLC

30 June 2022

 

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

30 June 2022

Anglo Asian Mining plc

Loan to employee

Anglo Asian Mining plc ("Anglo Asian" or the "Company"), the AIM listed gold, copper and silver producer focused in Azerbaijan, announces that it has entered into a loan agreement with Mr Farhang Hedjazi, Vice President of Technical Services and a person discharging managerial responsibility of the Company, pursuant to which the Company has made a loan of US$500,000 to Mr Hedjazi (the "Loan"). The Loan has been guaranteed by Reza Vaziri, President and Chief Executive Officer of the Company.

Under the terms of the Loan, the interest rate is 4 per cent. per annum and is repayable within the next 12 months. Mr Hedjazi has also entered into a pledge agreement with the Company to provide security to Anglo Asian in respect of Mr Hedjazi's holding of 772,665 shares in the Company at a price of £0.975 per share, being the closing mid-market price on 29 June 2022.

**ENDS**

For further information please contact:

Bill Morgan	Anglo Asian Mining plc	Tel: [phone]
Stephen Westhead	Anglo Asian Mining plc	Tel: [phone]
Ewan Leggat Adam Cowl	SP Angel Corporate Finance LLP Nominated Adviser and Broker	Tel: [phone]
Charlie Jack Harry Griffiths	Hudson Sandler	Tel: [phone]

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY DIRECTORS AND PERSONS CLOSELY ASSOCIATED WITH THEM.

1.	Details of the person director
a)	Name:	Farhang Hedjazi
2.	Reason for the notification
a)	Position/status:	Vice President of Technical Services
b)	Initial notification/Amendment:	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	Anglo Asian Mining plc
b)	LEI:	213800F9JM669WH34359
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument: Identification code:	Ordinary shares of 1 pence each GB00B0C18177
b)	Nature of the transaction:	Pledge of shares as security of Loan
c)	Price(s) and volume(s):	Price(s) Volume(s) £0.975 772,665
d)	Aggregated information: Aggregated volume: Price:	772,665 £0.975
e)	Date of the transaction:	30 June 2022
f)	Place of the transaction:	Outside of a trading venue

Notes to editors:

Anglo Asian Mining plc (AIM:AAZ) is a gold, copper and silver producer in Central Asia with a broad portfolio of production and exploration assets in Azerbaijan. The Company produced 64,610 gold equivalent ounces ("GEOs") for the year ended 31 December 2021. 

In September 2021, the Company announced a transaction with the Government of Azerbaijan which grants it three additional concessions with a combined area of 882 square kilometres, including the Garadagh porphyry copper deposit, with a Soviet classified resource of over 300,000 tonnes of copper. The transaction is subject to ratification by the parliament of Azerbaijan.

In December 2021, the Company undertook a private placement which acquired 19.8 per cent. of Libero Copper & Gold Corporation ("Libero"). The transaction was completed in January 2022. Libero is listed on the TSX Venture Exchange in Canada and owns, or has the option to acquire, several copper exploration properties in North and South America, including Mocoa in Colombia, one of the world's largest undeveloped copper-molybdenum resources.   

https://www.angloasianmining.com/

 

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