Alba Mineral Resources PLC Issue of Equity (5273S)
November 06 2019 - 8:54AM
UK Regulatory
TIDMALBA
RNS Number : 5273S
Alba Mineral Resources PLC
06 November 2019
Alba Mineral Resources plc
("Alba" or "the Company")
Share Placing
Alba Mineral Resources plc (AIM: ALBA) is pleased to announce
that it has raised GBP350,000 (before expenses) through the issue
of 218,750,000 new ordinary shares at a price of 0.16 pence per
ordinary share (the "Placing"), conditional on the admission of
such new ordinary shares to trading on AIM ("Admission").
The proceeds from the share placing will be used to accelerate
work activities in relation to the Company's key mining assets
(Clogau Gold, Amitsoq Graphite and Thule Black Sands Ilmenite) and
for general working capital purposes.
Share warrants will also be issued to each subscriber in the
placing, with one warrant to be issued for each share subscribed
for, for a total of 218,750,000 warrants.
The warrants will have an exercise price of 0.32p per share and
an expiration date of 24 months from the date of issue. The
warrants will also be subject to an accelerator provision, such
that if at any time during the 24 month duration of the warrants
the 10-day volume-weighted average price (VWAP) of Alba ordinary
shares exceeds 0.64p then the Company may give warrant holders
notice to exercise their warrants within 10 business days following
the Company's notice and to pay the exercise price in full within
15 business days following the Company's notice, failing which the
warrants will automatically expire.
The warrants will not be traded on any exchange and will
otherwise be issued subject to the terms and conditions set out in
a warrant instrument to be executed by the Company.
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 of the first tranche of 146,562,500 placing shares will
become effective at 8.00 a.m. on or around 13 November 2019, and
that Admission of the second and final tranche of 72,187,500
placing shares will become effective at 8.00 a.m. on or around 21
November 2019. 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 3,745,351,946. The Company does not hold any ordinary
shares in treasury. Therefore, the total number of ordinary shares
with voting rights will be 3,745,351,946. 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.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information, please contact:
Alba Mineral Resources plc
George Frangeskides, Executive Chairman +44 20 3907 4297
Cairn Financial Advisers LLP (Nomad)
James Caithie / Liam Murray +44 20 7213 0880
First Equity Limited (Broker)
Jason Robertson +44 20 7374 2212
Yellow Jersey PR (Financial PR/ IR)
Sarah Hollins / Harriet Jackson / Henry Wilkinson +44 20 3004 9512
alba@yellowjerseypr.com
Alba's Project and Investment Portfolio
Project (commodity) Location Ownership
Mining Projects
Amitsoq (graphite) Greenland 90%
----------- ----------
Clogau (gold) Wales 90%
----------- ----------
Inglefield (copper, cobalt,
gold) Greenland 100%
----------- ----------
Limerick (zinc-lead) Ireland 100%
----------- ----------
Melville Bay (iron ore) Greenland 51%
----------- ----------
TBS (ilmenite) Greenland 100%
----------- ----------
Oil & Gas Investments
Brockham (oil) England 5%
----------- ----------
Horse Hill (oil) England 11.765%
----------- ----------
Web: www.albamineralresources.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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