Convertible loan agreement and issue of equity

RNS Number : 1980Q

Aurum Mining PLC

25 November 2016

 

25 November 2016

AURUM MINING PLC

("Aurum" or the "Company")

Convertible loan agreement

Director/PDMR Shareholding

Issue of equity

Aurum Mining plc (AIM: AUR), the Spanish focused gold and tungsten explorer, announces that it has today been informed that David Williams, Chairman, has disposed of his interest of £50,000 in the convertible loan announced on 11 February 2016. 

Following the above transaction, Mr Williams still has an interest of £50,000 in the convertible loan announced on 17 June 2016.  In addition he holds 81,083,994 ordinary shares representing 27.37 per cent. of the company's issued share capital.

In addition, the Company announces that it is issuing 2,500,000 new ordinary shares of 1 pence each ("Ordinary Shares") in order to satisfy the exercise of a right to subscribe for equity in the Company at a price of 1 pence per share by an advisory board member of the Company. 

Application will be made for the 2,500,000 new Ordinary Shares to be admitted to trading on AIM, which is expected to take place on 2 December 2016. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares in issue.

In accordance with the provisions of the Disclosure Guidance and Transparency Rules of the FCA, the Company confirms that, following this issue, its issued share capital will comprise 328,750,286 Ordinary Shares of 1 pence each. All Ordinary Shares shall have equal voting rights and none of the Ordinary Shares are held in treasury. The total number of voting rights in the Company immediately following Admission will therefore be 328,750,286.

This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

The information below, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail on shares acquired.

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	David Williams
2	Reason for the notification
a)	Position/status	Chairman
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Aurum Mining plc
b)	LEI	N/A
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	Convertible loan n/a
b)	Nature of the transaction	Disposal of convertible loan
c)	Price(s) and volume(s)	Price(s) Volume(s)  n/a n/a
d)	Aggregated information -      Aggregated volume -      Price	n/a £50,000
e)	Date of the transaction	25 November 2016
f)	Place of the transaction	n/a

Contacts:
Aurum Mining plc	www.aurummining.net
David Williams	[phone]
Chris Eadie	[phone]
WH Ireland Limited	Nominated Adviser & Broker
Mike Coe, Ed Allsopp	[phone]
Powerscourt	[e-mail]
Ben Griffiths, Andy Jones	[phone]

Notes to Editors:

Aurum Mining is an AIM listed exploration and development company focused on its highly prospective portfolio of gold and tungsten assets in North West Spain.

Gold

Through its joint venture agreement with Ormonde Mining plc (AIM: ORM), Aurum currently has a 56.5% interest in the Pino de Oro project in Zamora Province and a 51.4% interest in the Peralonso and Cabeza projects in Salamanca Province.

Tungsten

Aurum's 20% owned Morille Tungsten project is located approximately 15km south west of Salamanca in North West Spain and covers an area of 5,796 hectares. The permit area is a 'brownfield' site with historical data indicating production from the site of high quality tungsten concentrates.

 

END

 

 

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