TIDMALBA
RNS Number : 1778L
Alba Mineral Resources PLC
28 April 2020
Alba Mineral Resources plc
("Alba" or "the Company")
Results of AGM
Alba Mineral Resources plc (AIM: ALBA), the diversified mineral
exploration and development company, is pleased to announce that at
the Company's Annual General Meeting ("AGM") which was held today
at 10 a.m. on 28 April 2020 at The Grange (Regus Office), 100 High
Street, London N14 6BN, all the resolutions were voted upon by poll
and were duly passed.
The results of the poll for each resolution are as follows:
Resolution Total Shares Shares Percentage
Voted
For Against For Against
------------- ------------ ---------- -------- --------
1 - To receive
and adopt the
report of the
directors and
the financial
statements for
the period to
30 November 2019 399,517,349 396,804,336 2,713,013 99.321% 0.679%
------------- ------------ ---------- -------- --------
2 - To re-appoint
Mr George Frangeskides
as a director
of the Company 399,046,428 395,583,415 3,463,013 99.132% 0.868%
------------- ------------ ---------- -------- --------
3 - To re-appoint
Nexia Smith &
Williamson as
auditors 399,517,349 396,804,336 2,713,013 99.321% 0.679%
------------- ------------ ---------- -------- --------
4 - To authorise
the subdivision
and redesignation
of the Company's
ordinary share
capital 399,460,846 395,893,926 3,566,920 99.107% 0.893%
------------- ------------ ---------- -------- --------
5 - To empower
the directors
to allot shares
pursuant to Section
551 of the Companies
Act 2006 399,410,846 395,893,926 3,516,920 99.119% 0.881%
------------- ------------ ---------- -------- --------
6 - To empower
the directors
to allot equity
securities pursuant
to Section 570
of the Companies
Act 2006 349,442,970 345,926,050 3,516,920 98.994% 1.006%
------------- ------------ ---------- -------- --------
7 - To adopt
new Articles
of Association 348,972,049 348,547,665 424,384 99.878% 0.122%
------------- ------------ ---------- -------- --------
Share Capital Reorganisation
In addition to the usual business dealt with at the AGM, the
Company also sought shareholder approval for a sub-division and
redesignation of the Company's ordinary share capital (the "Share
Capital Reorganisation"), details of which were included in the
explanatory circular sent to Shareholders. The effect of the Share
Capital Reorganisation is to reduce the par (or nominal) value of
the Company's existing ordinary share capital from GBP0.001 to
GBP0.0001 per share.
Following the passing of the Share Capital Reorganisation
resolutions at the AGM today, being Resolutions 4 and 7, the
Company's issued ordinary share capital, previously being
3,918,351,946 Ordinary Shares of GBP0.001 (0.1p) each ("Old
Ordinary Shares"), is now 3,918,351,946 Ordinary Shares of
GBP0.0001 (0.01p) each ("New Ordinary Shares"). As such, the Share
Capital Reorganisation has had no impact on the total number of
Ordinary Shares in issue, and each Shareholder will have the same
number of Ordinary Shares immediately after the Share Capital
Reorganisation as they had immediately prior to it.
In addition to the New Ordinary Shares, there are now two
classes of Deferred Shares in issue, being 93,070,100 Deferred
Shares of GBP0.009 (0.9p) each, which were in issue prior to the
Share Capital Reorganisation, and 3,918,351,946 B Deferred Shares
of GBP0.0009 (0.09p) each, which were created pursuant to the Share
Capital Reorganisation. These Deferred Shares and B Deferred Shares
have very limited rights attaching to them and are effectively
valueless.
Admission to AIM
The Share Capital Reorganisation is conditional upon the New
Ordinary Shares being admitted to AIM. It is expected that
Admission will become effective at 8.00 am on or around 29 April
2020. Following Admission, the Company's 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.
The ISIN in respect of the Company's Ordinary Shares will remain
unchanged in respect of the New Ordinary Shares. Existing share
certificates will continue to be valid and no share certificates
will be issued in respect of the B Deferred Shares.
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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