Alba Mineral Resources PLC Brockham Disposal (8667B)
June 15 2021 - 2:00AM
UK Regulatory
TIDMALBA
RNS Number : 8667B
Alba Mineral Resources PLC
15 June 2021
Alba Mineral Resources plc
("Alba" or the "Company")
Brockham Disposal
Alba Mineral Resources plc (AIM: ALBA) announces that it has
completed the disposal of its 5% interest in the Brockham Oil Field
to the Operator, Angus Energy. The consideration, in settlement of
certain back costs and a contribution toward eventual abandonment
costs, involves the payment by Alba to Angus of GBP32,000 plus VAT,
settled as to GBP6,400 in cash and GBP32,000 by the issue of
12,407,910 shares in Alba at the 10-day VWAP of 0.2579p per
share.
The Alba Board is pleased to have completed this disposal, which
is part of Alba's drive to rationalise its non-core assets.
Admission to AIM
Application will be made for the new ordinary shares which are
to be issued to be admitted to trading on AIM ("Admission"). It is
expected that Admission of the new ordinary shares will become
effective at 8.00 a.m. on or around 18 June 2021. 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 6,240,236,899. The Company does not hold any ordinary
shares in treasury. Therefore, the total number of ordinary shares
with voting rights will be 6,240,236,899. 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 the UK Market Abuse Regulation and the Directors of the Company
are responsible for the release of this announcement.
For further information, please contact:
Alba Mineral Resources plc
George Frangeskides, Executive Chairman +44 20 3950 0725
Cairn Financial Advisers LLP (Nomad)
James Caithie / Liam Murray +44 20 7213 0880
ETX Capital (Broker)
Thomas Smith +44 20 7392 1494
Alba's Project and Investment Portfolio
Project (commodity) Location Ownership
Mining Projects
Amitsoq (graphite) Greenland 90%
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Clogau (gold) Wales 90%
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Gwynfynydd (gold) Wales 100%
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Inglefield (copper, cobalt,
gold) Greenland 100%
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Limerick (zinc-lead) Ireland 100%
----------- ----------
Melville Bay (iron ore) Greenland 51%
----------- ----------
TBS (ilmenite) Greenland 100%
----------- ----------
Oil & Gas Investments
Horse Hill (oil) England 11.765%
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END
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