TIDMALBA
RNS Number : 7353T
Alba Mineral Resources PLC
22 March 2019
Alba Mineral Resources plc
("Alba" or "the Company")
Subscription of Shares by Directors
Alba Mineral Resources plc (AIM: ALBA) is pleased to announce
that the Executive Chairman, George Frangeskides, has subscribed
for a total of 8,333,333 shares in the Company and Non-Executive
Director Michael Nott has subscribed for a total of 6,666,667
shares in the Company, each at a subscription price of GBP0.003 per
share, being a premium of 27.7% above the closing mid-market price
on 21 March 2019 of GBP0.00235 and a premium of 22.9% above the 20
trading day volume weighted average price ("VWAP") up to 21 March
2019 of GBP0.00244.
The subscription is conditional on the admission of the new
ordinary shares to trading on AIM ("Admission").
The shareholdings of the directors in question both prior to and
subsequent to this subscription are as follows:
Director No. of shares Subscription Resultant no. % of issued
shares of shares share capital
George Frangeskides 29,559,957 8,333,333 37,893,290 1.16%
-------------- ------------- -------------- ---------------
Michael Nott 45,720,563 6,666,667 52,387,230 1.60%
-------------- ------------- -------------- ---------------
Admission to AIM
Application will be made for the 15,000,000 new ordinary shares
to be admitted to trading on AIM, and it is expected that Admission
will become effective at 8.00 a.m. on or around 29 March 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 3,276,601,946. The Company does not hold any ordinary
shares in treasury. Therefore, the total number of ordinary shares
with voting rights will be 3,276,601,946. 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.
Related Party Transaction
The subscriptions described above are deemed to be related party
transactions for the purposes of Rule 13 of the AIM Rules. Mr
Manuel Lamboley, being the sole independent director of the Company
for the purposes of the subscription, considers, having consulted
with the Company's Nominated Adviser, that the terms of the
subscriptions are fair and reasonable in so far as shareholders are
concerned.
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 7264 4366
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)
Tim Thompson / Harriet Jackson/ Henry Wilkinson +44 77 1071 8649
alba@yellowjerseypr.com
Alba's Project & Investment Portfolio
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.
Clogau (Gold, Wales): Alba owns a 90 per cent interest in Gold
Mines of Wales Limited ("GMOW"), the ultimate owner of the Clogau
Gold project situated in the Dolgellau Gold Belt in Wales.
Inglefield Land (Copper, Cobalt, Gold): Alba owns 100 per cent
of mineral exploration licence ("MEL") 2017/40 and MEL 2018/25 in
north-west Greenland.
Limerick (Base Metals, Ireland): Alba owns 100 per cent of the
Limerick base metal project in the Republic of Ireland.
Melville Bay (Iron Ore, Greenland): Alba is entitled to a 51 per
cent interest in MEL 2017/41 in Melville Bay, north-west Greenland.
The licence area benefits from an existing inferred JORC resource
of 67 Mt @ 31.4% Fe.
Thule Black Sands (Ilmenite, Greenland): Alba owns 100 per cent
of MEL 2017/29 in the Thule region, north-west Greenland.
Oil & Gas
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.
Horse Hill (Oil & Gas, UK): Alba holds an 11.765 per cent
effective interest in the Horse Hill oil and gas project (licences
PEDL 137 and PEDL 246 covering a total area of 142.9 km(2)) in the
UK Weald Basin.
Web: www.albamineralresources.com
Notification of a Transaction pursuant to Article 19(1) of Regulation
(EU) No. 596/2014
1 Details of the person discharging managerial responsibilities/person
closely associated
----------------------------------------------------------------------------------
a. Name (i) George Frangeskides
(ii) Michael Nott
------------------------------ --------------------------------------------------
2 Reason for notification
------------------------------ --------------------------------------------------
a. Position/Status (i) Executive Chairman
(ii) Non-Executive Director
------------------------------ --------------------------------------------------
b. Initial notification/ Initial notification
Amendment
------------------------------ --------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------
a. Name Alba Mineral Resources plc
------------------------------ --------------------------------------------------
b. LEI 213800Z1BU53AWR9J329
------------------------------ --------------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
----------------------------------------------------------------------------------
a. Description of
the financial Ordinary shares of 0.1p each
instrument, type
of instrument
Identification ISIN: GB00B06KBB18
Code
------------------------------ --------------------------------------------------
b. Nature of the Subscription of ordinary shares
transaction
------------------------------ --------------------------------------------------
c. Price(s) and volume(s) Price(s) per Volume(s)
share
------------------------------ ---------------------
(i) GBP0.003 (i) 8,333,333
(ii) GBP0.003 (ii) 6,666,667
--------------------- ------------------
d. Aggregated information n/a
- Aggregated Volume
- Price
------------------------------ --------------------------------------------------
e. Date of the transaction 22 March 2019
------------------------------ --------------------------------------------------
f. Place of the transaction AIM, London Stock Exchange
------------------------------ --------------------------------------------------
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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