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Anglo Asian Mining (AAZ)

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Thursday 27 July, 2017

Anglo Asian Mining

Issue of Equity and Director Shareholding

RNS Number : 2033M
Anglo Asian Mining PLC
27 July 2017
 

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

27 July 2017

Anglo Asian Mining plc

Issue of Equity and Director Shareholding

 

Anglo Asian Mining plc ("Anglo Asian" or "the Company"), the AIM listed gold, silver and copper producer in Azerbaijan, has today applied for the admission of 1,100,000 new ordinary shares of 1p each in the share capital of the Company ("Ordinary Shares") to be admitted to trading on AIM.

 

The Ordinary Shares were issued by Anglo Asian pursuant to the conditional and irrevocable exercise of share options at 12 pence per new Ordinary Share by Khosrow Zamani, Non-executive Chairman of Anglo Asian, and Richard Round, Non-executive Director of the Company, on 26 July 2017. The conditional and irrevocable exercise of the share options was previously announced by the Company on 17 January 2017.

 

The new Ordinary Shares will rank pari passu in all respects with the existing ordinary shares of 1 pence each in the Company including the right to receive any dividend or other distribution thereafter declared, made or paid. Application has been made to the London Stock Exchange for the new Ordinary Shares to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective and that dealings in the new Ordinary Shares will commence on 3 August 2017.

 

Following the issue of the new Ordinary Shares referred to above, Khosrow Zamani has an interest in a total of 1,759,590 Ordinary Shares, representing 1.55 per cent. of the issued Ordinary Share capital, as enlarged by the issue of new Ordinary Shares in connection with the above share option exercises.

 

Following the issue of the new Ordinary Shares referred to above, Richard Round has an interest in a total of 906,759 Ordinary Shares, representing 0.80 per cent. of the issued Ordinary Share capital, as enlarged by the issue of new Ordinary Shares in connection with the above share option exercises.

 

Following the issue of the new Ordinary Shares, the Company's issued share capital now consists of 113,761,024 ordinary shares of 1p each, none of which are held in treasury. Therefore, the total number of voting rights in the Company is 113,761,024.

 

The above figure of 113,761,024 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.

 

**ENDS**

 

For further information, please visit www.angloasianmining.com or contact:

 

Reza Vaziri

Anglo Asian Mining plc

Tel: +994 12 596 3350

Bill Morgan

Anglo Asian Mining plc

Tel: +994 502 910 400

Ewan Leggat                 

Soltan Tagiev

SP Angel Corporate Finance LLP

Nominated Adviser and Broker

Tel: +44 (0) 20 3470 0470

Lottie Brocklehurst

St Brides Partners Ltd

Tel: +44 (0) 20 7236 1177

Susie Geliher

St Brides Partners Ltd

Tel: +44 (0) 20 7236 1177

 

Notes:

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 has a 1,962 square kilometre portfolio, assembled from analysis of historic Soviet geological data and held under a Production Sharing Agreement modelled on the Azeri oil industry.

 

The Company developed Azerbaijan's first operating gold/copper/silver mine, Gedabek, which commenced gold production in May 2009.  Gedabek is an open cast mine with a series of interconnected pits. The Company also operates the high grade Gadir underground mine which is co-located at the Gedabek site. The Company has a second underground mine, Gosha, which is 50 kilometres from Gedabek. Ore mined at Gosha is processed at Anglo Asian's Gedabek plant.

 

Gold production for the year ended 31 December 2016 from Gedabek totalled 65,394 ounces with 1,941 tonnes of copper also produced.  Gedabek is a polymetallic deposit and its ore has a high copper content, and as a result the Company produces copper concentrate from its Sulphidisation, Acidification, Recycling, and Thickening (SART) plant. Anglo Asian also produces a copper and precious metal concentrate from its flotation plant, which is processing tailings from the agitation leach plant.

 

Anglo Asian is also actively seeking to exploit its first mover advantage in Azerbaijan to identify additional projects, as well as looking for other properties in order to fulfil its expansion ambitions and become a mid-tier gold and copper metal production company.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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