TIDMALBA

RNS Number : 4189K

Alba Mineral Resources PLC

22 April 2020

Alba Mineral Resources plc

("Alba" or "the Company")

Issue of Ordinary Shares following Exercise of Conversion Rights

Alba Mineral Resources plc (AIM: ALBA), the diversified mineral exploration and development company, announces that it has received a notice of exercise from Bergen Global Opportunity Fund, LP (the "Investor") in respect of the convertible security previously issued (as announced on 3 March 2020) pursuant to the convertible securities issuance deed ("the Deed") the terms of which were announced on 24 February 2020.

Under the Deed, as a result of this notice of exercise 30,000,000 ordinary shares (the "Conversion Shares") fall to be issued at a conversion price of 0.1p, with an additional 45,000,000 ordinary shares being issued by way of a fee ("Fee Shares") in accordance with the terms of the Deed, due to the market price of the Company's shares being below their par value (being 0.1p).

As a result, a total of 75,000,000 ordinary shares, being the total of the Conversion Shares and the Fee Shares (the "Relevant Shares"), fall to be issued by the Company.

Application is being made for the Relevant Shares to be admitted to trading on AIM with admission expected to take place on or around 28 April 2020. The Relevant Shares will rank pari passu in all respects with all existing ordinary shares in the Company .

Following admission of the Relevant Shares , the Company's enlarged issued share capital will comprise 3,918,351,946 ordinary shares with voting rights. 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

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% 
                               -----------  ----------

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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April 22, 2020 02:00 ET (06:00 GMT)

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