Last checked at 2 Oct 2009 16:30
Anglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining
2 October 2009
Anglo Asian Mining plc ('Anglo Asian' or 'the Company')
Issue of Shares
Anglo Asian Mining plc, the AIM listed emerging gold producer, announces that the following Ordinary Shares have been issued to Directors in lieu of salary/fees for the period 1 July 2009 to 30 September 2009, using the closing share price on 30 September 2009 of 13.25p.
The Directors have chosen to take shares in lieu of salary/fees and expenses in order to preserve the cash in the Company for working capital at the Gedabek gold/copper mine in Azerbaijan.
| Number of Ordinary Shares awarded | Resulting number of Ordinary Shares held | % holding of Ordinary Shares with voting rights | |
| John Sununu | 33,962 | 10,070,352 | 9.60 |
| Khosrow Zamani | 18,868 | 204,203 | 0.19 |
| Richard Round | 22,372 | 181,021 | 0.17 |
| Total | 75,202 |
Application will be made for the new Ordinary Shares of Anglo Asian Mining PLC to be admitted to trading on AIM. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares in the Company and trading of these shares on AIM is expected to commence on 12 October 2009.
The total number of Ordinary Shares with voting rights following this issue is 104,941,237.
* * ENDS * *
For further information please visit www.aamining.com or contact:
| Reza Vaziri | Anglo Asian Mining plc | Tel: +994 12 596 3350 |
| Andrew Herbert | Anglo Asian Mining plc | Tel: +994 12 596 3350 |
| John Harrison | Numis Securities Limited, as Nominated Adviser | Tel: +44 (0) 20 7260 1000 |
| James Black | Numis Securities Limited, as Corporate Broker | Tel: +44 (0) 20 7260 1000 |
| Hugo de Salis | St Brides Media & Finance Ltd | Tel: +44 (0) 20 7236 1177 |
| Isabel Crossley | St Brides Media & Finance Ltd | Tel: +44 (0) 20 7236 1177 |
Notes to Editor:
Anglo Asian Mining plc (AIM:AAZ) is an emerging gold producer in Central Asia with a broad portfolio of production and exploration assets in Azerbaijan. The Company has a 1,962 sq km prospective exploration portfolio, assembled on the back of analysis of historic Soviet geological data and held under a Production Sharing Agreement ('PSA') based on the Azeri oil industry. The Company developed Azerbaijan's first operating gold/copper mine, Gedabek, which commenced gold production in May 2009 and is targeted to produce in excess of 300,000 oz gold in the first six years of production.
Anglo Asian is actively looking to exploit its first mover advantage in Azerbaijan to identify additional projects, as well as looking for other properties in Central Asia and Caucasia in order to fulfil its expansion ambitions and become a mid-tier gold and base metal production company focussed in these regions.