Alba Mineral Resources PLC Issue of Equity (0543P)
26 August 2017 - 12:06AM
UK Regulatory
TIDMALBA
RNS Number : 0543P
Alba Mineral Resources PLC
25 August 2017
Alba Mineral Resources plc
("Alba" or "the Company")
Placing to raise GBP1,065,000
Alba Mineral Resources plc (AIM: ALBA) is pleased to announce
that it has raised GBP1,065,000 (before expenses) through the issue
of 266,250,000 new ordinary shares at a price of 0.4 pence per
ordinary share (the "Placing"), conditional on the admission of
such new ordinary shares to trading on AIM ("Admission").
The placing proceeds will be principally used to advance the
Company's interests across its existing portfolio of assets in the
onshore UK oil and gas sector (Horse Hill and Brockham), its mining
exploration portfolio, notably the high grade Amitsoq graphite
project and Thule mineral sands project, both in Greenland, for
further project or investment opportunities and for general working
capital purposes.
Admission to AIM
Application will be made for the new ordinary shares to be
admitted to trading on AIM ("Admission"). It is expected that
Admission will become effective at 8.00 a.m. on 4 September 2017.
The new ordinary shares will be issued credited as fully paid and
will rank in full for all dividends and other distributions
declared, made or paid after Admission and will otherwise rank on
Admission pari passu in all respects with the existing ordinary
shares.
Total Voting Rights
Following Admission, the total number of ordinary shares in
issue will be 2,154,121,089. The Company does not hold any ordinary
shares in treasury. Therefore, the total number of ordinary shares
with voting rights will be 2,154,121,089. This figure 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 to their interest in, the
share capital of the Company under the Financial Conduct
Authority's Disclosure and Transparency Rules.
For further information please contact:
+44 20 7264
Alba Mineral Resources Plc 4366
George Frangeskides, Executive Chairman
+44 20 7213
Cairn Financial Advisers LLP 0880
James Caithie/Liam Murray
Dowgate Capital Stockbrokers Limited +44 1293 517744
Alba's Project Portfolio
Oil & Gas
Horse Hill (Oil & Gas, UK): Alba holds a 15 per cent
interest in Horse Hill Developments Limited, the company which has
a 65 per cent participating interest and operatorship of the Horse
Hill oil and gas project (licences PEDL 137 and PEDL 246) in the UK
Weald Basin.
Brockham (Oil & Gas, UK): Alba has a direct 5 per cent
interest in Production Licence 235, which comprises the previously
producing onshore Brockham Oil Field.
Mining
Amitsoq (Graphite, Greenland): Alba owns a 90 per cent interest
in the Amitsoq Graphite Project in Southern Greenland and has an
option over the remaining 10 per cent.
Black Sands (Ilmenite, Greenland): Alba owns 100 per cent of
mineral exploration licence 2017/29 in the Thule region, North-West
Greenland.
Limerick (Base Metals, Ireland): Alba has 100 per cent of the
Limerick base metal project in the Republic of Ireland.
El Mreiti (Uranium, Mauritania): Alba has applied for the
reissue of a uranium permit in northern Mauritania, centred on
known uranium-bearing showings.
Alba continues actively to review numerous other project
opportunities which have value-enhancing potential for the Company
whether by bolt-on or stand-alone acquisition, farm in or joint
venture.
Web: www.albamineralresources.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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