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1 Aug 2008 12:46
ALBA MINERAL RESOURCES PLC ("ALBA" or the "Company")
Issue of Equity
The Board of Alba announce that it has issued and allotted, credited as fully paid 5,000,000 new ordinary shares in the Company at a price of 1.0 pence per share to raise £50,000 (the "Placing"). The proceeds of the Placing will provide additional working capital for the Company.
The new ordinary shares will rank pari passu with the existing ordinary shares. Dealings in the new ordinary shares are expected to commence on AIM at 8:00 a.m. on 7 August 2008.
Further details of the Placing are set out below:-
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Placee
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Number of Alba shares issued and allotted pursuant to the Placing
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Number of Alba Shares held subsequent to the Placing
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Percentage interest in the enlarged issued share capital of Alba subsequent to the Placing
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Regency Mines Plc (“Regency”)*
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2,500,000
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13,934,047
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15.0%
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Starvest plc (“Starvest”)
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2,500,000
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11,875,000
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12.8%
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* Michael Nott, a director of Alba, is also a director of Red Rock Resources Plc, an AIM listed Company of which Regency Mines Plc (also an AIM listed company) is a Substantial Shareholder
Issue of Options
Additionally, the Company has granted Regency and Starvest an option to subscribe for a further 2,500,000 each at a price of 1 pence per share at any time up until 31 March 2009.
TOTAL VOTING RIGHTS
Following the issue of equity and in conformity with the Financial Services Authority's Disclosure and Transparency Rules, the Company gives notice that its voting capital consists of:
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Ordinary Shares
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Nominal Value
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£
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Ordinary Shares held in Treasury
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93,070,150
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1p
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930,701
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–
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As Alba does not hold any ordinary shares in Treasury its total number of voting rights equals its capital.
The above figure may be used by shareholders 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, Alba under the FSA's Disclosure and Transparency Rules.
Enquiries:
Michael Nott, Director Tel: 020 7495 5326
Alba Mineral Resources Plc
Liam Murray, Nominated Adviser Tel: 020 7492 4777
Dowgate Capital Advisers Limited
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