Issue of Equity, Warrants and Director Dealing

RNS Number : 9135R

Tertiary Minerals PLC

14 March 2016

 

Tertiary Minerals plc

www.tertiaryminerals.com

("Tertiary" or "the Company")

14 March 2016

Issue of Equity, Total Voting Rights and Grant of Warrants

Issue of Equity

Tertiary Minerals plc, the AIM traded company building a strategic position in the fluorspar sector announces that pursuant to terms agreed on 30 April 2014 and further to the RNS dated 20 August 2014, the non-executive directors of the Company will be receiving a portion of their annual fees in Tertiary Minerals ordinary shares of 1 penny each ("Ordinary Shares"), on a six monthly ongoing basis calculated with reference to the closing mid-market price the trading day prior to the issue of the Ordinary Shares.

On 11 March 2016, the Company resolved to issue a total of 97,170 Ordinary Shares to Donald McAlister for the period ended 31 December 2016. The Ordinary Shares were issued at a price of 1.4 pence per share, being the closing mid-market price on 11 March 2016.

The following table shows the number of Ordinary Shares issued to Donald McAlister and his total holding following the issue of the Ordinary Shares:

Director	Number of Ordinary Shares issued	Price of Ordinary Shares issued	Interest in total number of Ordinary Shares following Admission	% of Company's issued share capital following Admission
Donald McAlister	97,170	1.4 pence	354,957	0.164%

Application has been made to the London Stock Exchange for 97,170 Ordinary Shares to be admitted to trading on AIM ("Admission"), and it is expected that Admission will occur on or around 17 March 2016.

Total Voting Rights

In accordance with Financial Conduct Authority's Disclosure and Transparency Rules ("DTR"), following the share issue referred to above, the total issued share capital of the Company with voting rights will be 216,845,276 ordinary shares.

The above figure of 216,845,276 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 DTR.

Grant of Warrants

The Company also announces that on 11 March 2016 the Board of the Company granted a total of 1,000,000 warrants to its employees and the Company Secretary. No warrants were issued to directors of the Company.

Each warrant entitles the holder to subscribe for one ordinary share of the Company at the price of 1.4 pence per share, being the closing mid-market price on 11 March 2016, and the warrants may be exercised at any time within 4 years from 11 March 2017.

Enquiries Tertiary Minerals plc Patrick Cheetham, Executive Chairman  Richard Clemmey, Managing Director	[phone]
SP Angel Corporate Finance LLP Nominated Adviser & Joint Broker Ewan Leggat /Tercel Moor	[phone]
Beaufort Securities Ltd Joint Broker Jon Belliss/Elliot Hance	[phone]

Notes to Editors

Tertiary Minerals plc (ticker symbol 'TYM') is an AIM-quoted mineral exploration and development company building a significant strategic position in the fluorspar sector. Fluorspar is an essential raw material in the chemical, steel and aluminium industries. Tertiary controls two significant Scandinavian projects (Storuman in Sweden and Lassedalen in Norway) and a large deposit of strategic significance in Nevada USA (MB Project).

Cautionary Notice

The news release may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, inter alia, to the Company's proposed strategy, plans and objectives or to the expectations or intentions of the Company's directors. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely on any forward-looking statements and save as required by the AIM Rules for Companies or by law, the Company does not accept any obligation to disseminate any updates or revisions to such forward-looking statements.

 

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