Last checked at 29 Sep 2023 07:00
29 September 2023
Andrada Mining Limited
("Andrada" or the "Company")
Exercise of Share Options
Andrada Mining Limited (AIM: ATM, OTCQB: ATMTF), an African technology metals mining company with a portfolio of mining and exploration assets in Namibia has received notice from a share option holder to exercise as detailed below.
§ 1 736 842 share options at an exercise price of 3p.
§ 868 421 share options at an exercise price of 3.5p.
§ 868 421 share options at an exercise price of 4p
Accordingly, the Company has today issued 3 473 684 Ordinary Shares (the "Option Shares") to satisfy these exercises. Application has been made to admit the Option Shares to trading on AIM and it is anticipated that the application will be e?ected and dealings will commence on 4 October 2023 ("Admission").
Disclosure and Transparency Rules
In accordance with the provisions of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company con?rms that, upon Admission its issued share capital will comprise 1 542 429 217 Ordinary Shares of no-par value upon Admission (the "Enlarged Share Capital").
All of these Ordinary Shares have equal voting rights and none of them are held in treasury. The total number of voting rights in the Company will therefore be 1 542 429 217 upon Admission. This total voting rights ?gure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interests in, or a change to their interest in, the Company under the DTRs
contact
Andrada Mining Limited Anthony Viljoen, CEO Sakhile Ndlovu, Investor Relations | +27 (11) 268 6555 investorrelations@andradamining.com
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Nominated Adviser | |
WH Ireland Limited Katy Mitchell | +44 (0) 207 220 1666 |
Corporate Adviser and Joint Broker | |
H&P Advisory Limited Andrew Chubb Jay Ashfield Matt Hasson | +44 (0) 20 7907 8500 |
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Stifel Nicolaus Europe Limited Ashton Clanfield Calum Stewart Varun Talwar | +44 (0) 20 7710 7600 |
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Tavistock Financial PR (United Kingdom) Jos Simson Catherine Drummond Adam Baynes | +44 (0) 207 920 3150 andrada@tavistock.co.uk |
About Andrada Mining Limited
Andrada Mining Limited, is a London-listed technology metals mining company with a vision to create a portfolio of globally significant, conflict-free, production and exploration assets. The Company's flagship asset is the Uis Mine in Namibia, formerly the world's largest hard-rock open cast tin mine.
An exploration drilling programme is currently underway with the aim of expanding the tin resource over the fourteen additional, historically mined pegmatites, all of which occur within a 5 km radius of the current processing plant. The Company has set a mineral resource target of 200 Mt to be delineated within the next 5 years. The existing mine, together with substantial mineral resource potential, allows the Company to consider economies of scale.
Andrada is managed by a board of directors with extensive industry knowledge and a management team with extensive commercial and technical skills. Furthermore, the Company is committed to the sustainable development of its operations and the growth of its business. This is demonstrated by the way the leadership team places significant emphasis on creating value for the wider community, investors, and other key stakeholders. Andrada has established an environmental, social and governance system which has been implemented at all levels of the Company and aligns with international standards. [END]