TIDMALBA

RNS Number : 8328R

Alba Mineral Resources PLC

08 July 2022

08 July 2022

Alba Mineral Resources plc

("Alba" or the "Company")

Investee Company Update: GreenRoc Mining plc

Alba Mineral Resources plc (AIM: ALBA) is pleased to note the announcement today by its portfolio company, GreenRoc Mining plc ("GreenRoc") (AIM: GROC). Alba holds a 54% majority interest in GreenRoc. The announcement is set out below without material changes.

GreenRoc Mining plc

("GreenRoc" or the "Company")

Grant of Share Options

GreenRoc Mining Plc (AIM: GROC), a company focused on the development of critical mineral projects in Greenland, announces the grant on 8 July 2022 of 1,000,000 share options over ordinary shares in the Company ("Options") to Stefan Bernstein, Chief Executive Officer of the Company, as follows:

Option Award

 
 Director / Senior Management    New Options      Exercise price   Vesting Date   Total Options Granted 
                                              ------------------ 
 Mr Stefan Bernstein                 333,333       10 pence        1 July 2023 
                                     333,333       10 pence        1 July 2024 
                                     333,334       10 pence        1 July 2025 
 Total                             1,000,000                                                  1,000,000 
                                ------------  ------------------  -------------  ---------------------- 
 

The Options are awarded subject to the terms, conditions and rules set out in the Greenroc Mining Plc Long Term Incentive Plan (the "LTIP Rules").

Subject as aforesaid, the Options shall be exercisable at the exercise price and from the vesting dates set out above, unless an earlier event occurs to cause them to become exercisable or to lapse under the LTIP Rules.

The Options shall lapse on 28 September 2026, to the extent they are not exercised before then and provided no event occurs to cause them to lapse earlier under the LTIP Rules.

The Options granted represent approximately 0.9% of the current issued share capital of the Company. On a fully diluted basis the Options represent approximately 0.9% of the enlarged issued share capital of the Company (assuming the Options are exercised in full and no additional ordinary shares are issued save for those in connection with such exercise).

**ENDS**

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

Alba Mineral Resources plc

   George Frangeskides, Executive Chairman      +44 20 3950 0725 

SPARK Advisory Partners Limited (Nomad)

   Andrew Emmott   +44 20 3368 3555 

ETX Capital (Broker)

   Thomas Smith   +44 20 7392 1494 

St Brides Partners (Financial PR)

   Isabel de Salis / Catherine Leftley      alba@stbridespartners.co.uk 

Alba's Projects and Investments

 
Mining Projects Operated       Location    Ownership 
 by Alba 
Clogau (gold)                  Wales       90% 
                               ----------  --------- 
Dolgellau Gold Exploration 
 (gold)                        Wales       90-100% 
                               ----------  --------- 
Gwynfynydd (gold)              Wales       100% 
                               ----------  --------- 
Limerick (zinc-lead)           Ireland     100% 
                               ----------  --------- 
Investments Held by Alba       Location    Ownership 
                               ----------  --------- 
GreenRoc Mining Plc (mining)   Greenland   54% 
                               ----------  --------- 
Horse Hill (oil)               England     11.765% 
                               ----------  --------- 
 

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END

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(END) Dow Jones Newswires

July 08, 2022 05:15 ET (09:15 GMT)

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