Alba Mineral Resources PLC Investee Company Update: GreenRoc Mining plc (8328R)
July 08 2022 - 4:15AM
UK Regulatory
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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