Issue of Shares, Directors' Dealings and Total ...

African Consolidated Resources plc / Ticker: AFCR / Index: AIM / Sector: Mining

21 March 2012

African Consolidated Resources plc ('ACR' or 'the Company')
Issue of Shares and Directors' Dealings
Total Voting Rights

African Consolidated Resources plc, the AIM listed resource and development company announces the following issue of new ordinary shares of 1p each in the Company ('Shares'):

1. Further to the announcement of 24 October 2012 the following issue of Shares pursuant to the binding agreement to pay a fixed proportion of basic remuneration as a subscription for Shares for the three month period ending 28 February 2013 in respect of services by directors: 

 

		Remuneration applied as a subscription for Shares £				Shares issued at 2p
	Roy Tucker	18,125				906,250
	Michael Kellow	19,375				968,750
			37,500			1,875,000

 

 

2. The subscription of 416,667 Shares by Craig Hutton at a price of 3p per Share in respect of a proportion of basic remuneration totalling £12,500 for the period to 28 February 2013. 

Furthermore, Mr Hutton has entered into a binding agreement with the Company, pursuant to which Mr Hutton has agreed that a fixed proportion of his monthly basic remuneration in respect of his services for the period to 31 December 2013 will be applied in the subscription for Shares at a price of 3p per Share.

3. Further to the announcement of 24 October 2012 and pursuant to subsequent board resolutions, the issue of 16,672,627 Shares to certain employees and consultants in respect of services rendered. 

The above issue of Shares is subject to Admission (as defined below).

The resultant holding of the directors (including pension funds) following these issues is as follows.  These holdings do not include any interests over Shares held through contracts with the Company's Employment Benefit Trust.

	Number of Shares	Percentage of enlarged share capital
Craig Hutton	2,316,667	0.27%
Michael Kellow	8,412,843	0.99%
Roy Tucker	8,260,083	0.98%

Application has been made to the London Stock Exchange for 18,964,294 new Shares to be admitted to trading on AIM ('Admission').  Admission is expected to occur at 8:00 am on 22 March 2013.  

Following Admission, the total number of voting rights in the Company will be 845,922,924 with each Share carrying the right to one vote.

The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in ACR under the FSA's Disclosure and Transparency Rule.

**ENDS**

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

Roy Tucker     African Consolidated Resources plc   [phone]

[phone]

Craig Hutton     African Consolidated Resources plc   [phone]

Andrew Godber   Panmure Gordon (UK) Limited     [phone]

Callum Stewart     Panmure Gordon (UK) Limited     [phone]

Adam James     Panmure Gordon (UK) Limited     [phone]

Susie Geliher     St Brides Media & Finance Ltd     [phone]

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(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: African Consolidated Resources Plc via Thomson Reuters ONE

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