Exercise of Warrants and Options

RNS Number : 5120J

Rare Earth Minerals PLC

12 June 2014

 



12 June 2014

Rare Earth Minerals plc

(the "Company")

Exercise of Warrants and Options

Rare Earth Minerals plc (AIM: REM) the rare earth minerals and metals projects investment company announces that it has received notices of the exercise of warrants and options (the "Exercise") to subscribe for a total of 259,423,333 new ordinary shares in the Company (the "New Ordinary Shares"). The exercise prices of the warrants and options are as follows: 75,000,000 at 0.50 pence; 48,090,000 shares at 0.40 pence and 136,333,333 at 0.06 pence. The total additional funds received by the Company is £649,160.

Application will be made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM ("Admission"). The New Ordinary Shares will rank pari passu with the existing ordinary shares in the Company and Admission is expected to commence on 18 June 2014.

Following Admission, the Company's enlarged issued share capital will comprise 5,453,375,717 ordinary shares. The Company does not hold any shares in treasury. This figure of 5,453,375,717 ordinary shares 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 in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

For further information please contact: 

Rare Earth Minerals plc                                                                   [phone]

David Lenigas

Kiran Morzaria

WH Ireland Limited (NOMAD & Joint Broker)                               [phone]

James Joyce

Nick Field

Hume Capital plc (Joint Broker)                                                     [phone]

Guy Peters

Jon Belliss

Square1 Consulting

David Bick, Mark Longson                                                                  [phone]

 

END

 

 

IOEUUVORSKANAAR