Alba Mineral Resources PLC Placing to raise £500,000 (4562H)
March 16 2015 - 2:00AM
UK Regulatory
TIDMALBA
RNS Number : 4562H
Alba Mineral Resources PLC
16 March 2015
16 March 2015
Alba Mineral Resources plc
("Alba" or "the Company")
Placing to raise GBP500,000
Alba Mineral Resources plc (AIM:ALBA), the UK based exploration
company, is pleased to announce that it has raised GBP500,000
(before expenses) in an oversubscribed placing, through the issue
of 200,000,000 new ordinary shares at a price of 0.25 pence per
ordinary share (the "Placing").
The proceeds of the Placing will be used to satisfy the purchase
price for the Company's acquisition of a further 5 per cent.
interest in Horse Hill Developments Limited (as announced by the
Company on 12 March 2015), for ongoing commitments to existing
projects, for the evaluation of new project opportunities and for
general working capital purposes.
Admission to AIM
Application has been made for the new ordinary shares to be
admitted to trading on AIM ("Admission"). It is expected that
admission will become effective and trading in the 200,000,000 new
ordinary shares will commence at 8.00 a.m. on 19 March 2015. The
new ordinary shares will be issued credited as fully paid and will
rank pari passu in all respects with the Company's existing
ordinary shares.
Total Voting Rights
Following Admission, the total number of ordinary shares in
issue will be 702,547,002. The Company does not hold any ordinary
shares in treasury. Therefore, the total number of ordinary shares
with voting rights will be 702,547,002. 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.
Enquiries:
Alba Mineral Resources Plc 020 3696 4616
Michael Nott, CEO
Cairn Financial Advisers LLP
(Nominated Adviser) 020 7148 7900
Avi Robinson / James Caithie
Dowgate Capital Stockbrokers Limited
(Broker) 01293 517744
Jason Robertson
Notes to Editors:
Alba holds interests in Mauritania (uranium: JV with FOSSE
Investments Limited) and Ireland (base metals) and a 5 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 (Licence PEDL 137). The projects are at
different stages of development. The Mauritania uranium project
comprises early phase exploration targets, whereas drilling has
been undertaken on the Irish base metals project. The Horse Hill-1
well was recently drilled, targeting a number of conventional
stacked oil and gas targets. The final depth of the drill hole was
8770 feet and the review of the results continues.
Please refer to our recent announcements, available at
www.albamineralresources.com.
Alba continues actively to review and discuss other project
opportunities which have value enhancing potential for the Company
whether by acquisition, farm in or joint venture in a range of
jurisdictions around the world.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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