Last checked at 22 Jul 2015 15:50
Anglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining
22 July 2015
Anglo Asian Mining plc
Issue of Shares / Directors Dealing
Anglo Asian Mining plc ("Anglo Asian" or "the Company"), the AIM listed gold, copper and silver producer focused in Azerbaijan, announces that it has issued a total of 977,052 new ordinary shares of 1 pence each ("New Shares") to certain Directors of the Company in lieu of remuneration and expenses due for the six months ended 30 June 2015.
The New Shares were issued on 22 July 2015 at a price of 6.19p per share, such price being the weighted average of the total remuneration and expenses due to each director below at the end of each month divided by the closing mid-market price on the last trading day of each month.
The shares issued to each director is as follows:
Director | Number of New Shares issue | Total Interest in ordinary shares following the issue of New Shares | Total interest in ordinary shares as a % of enlarged issued share capital
|
Khosrow Zamani | 666,406 | 1,259,590 | 1.12 |
Richard Round | 152,801 | 306,759 | 0.27 |
John Monhemius | 157,845 | 342,643 | 0.31 |
The New Shares will rank pari passu in all respects with the existing ordinary shares of 1 pence each in the Company including the right to receive any dividend or other distribution thereafter declared, made or paid. Application has been made to the London Stock Exchange for the New Shares to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective and that dealings in the New Shares will commence on 28 July 2015.
As a result of the issue of the New Shares, the Company's issued share capital now consists of 112,661,024 ordinary shares of 1 pence each.
For further information please visit www.angloasianmining.com or contact:
Reza Vaziri | Anglo Asian Mining plc | Tel: +994 12 596 3350 |
Bill Morgan | Anglo Asian Mining plc | Tel: +994 502 910 400 |
Ewan Leggat | SP Angel Corporate Finance LLP Nominated Adviser and Broker | Tel: +44 (0) 20 3470 0470 |
Stuart Gledhill | SP Angel Corporate Finance LLP | Tel + 44 (0) 20 3470 0470 |
Felicity Winkles | St Brides Partners Ltd | Tel: +44 (0) 20 7236 1177 |
Lottie Brocklehurst | St Brides Partners Ltd | Tel: +44 (0) 20 7236 1177 |
Notes:
Anglo Asian Mining plc (AIM:AAZ) is a gold, copper and silver producer in Central Asia with a broad portfolio of production and exploration assets in Azerbaijan. The Company has a 1,962 square kilometre prospective exploration portfolio, assembled from analysis of historic Soviet geological data and held under a Production Sharing Agreement modelled on the Azeri oil industry.
The Company developed Azerbaijan's first operating gold/copper/silver mine, Gedabek, which commenced gold production in May 2009. Gold production for the year ended 31 December 2014 from Gedabek totalled 60,285 ounces and 784 tonnes of copper. The Company is also developing a second resource area, Gosha, which is 50 kilometres from Gedabek, and the ore produced at Gosha is processed at Anglo Asian's Gedabek plant. The Company's production target for full year 2015 is between 70,000 ounces and 75,000 ounces of gold. Gedabek is a polymetallic deposit and its ore has a high copper content, and as a result the Company produces copper concentrate from its Sulphidisation, Acidification, Recycling, and Thickening (SART) plant. Anglo Asian is also constructing a small scale, low capital expenditure flotation plant to produce a copper and precious metal concentrate. This will initially process ore from its existing stockpiles of sulphide ore with a high copper content.
Anglo Asian is also actively looking to exploit its first mover advantage in Azerbaijan to identify additional projects, as well as looking for other properties in order to fulfil its expansion ambitions and become a mid-tier gold and copper metal production company.