Last checked at 10 Jan 2011 08:01
Anglesey Mining plc LSE:AYM
10 January 2011
Placing of new shares and exercise of share options by directors
Anglesey Mining plc is pleased to announce that Gartmore Investment and one other institution have today agreed to subscribe a total of £2.8 million in respect of the issue of 5,000,000 new ordinary shares at 56 pence per share, representing approximately 3.2% of the company's enlarged issued share capital.
The shares to be issued comprise 2.5 million new ordinary shares to be placed by the company for cash and 2.5 million new ordinary shares to be placed on behalf of certain directors of the company pursuant to the exercise of share options by them, in each case at a price of 56 pence per ordinary share.
The combined transactions will result in the orderly placement of the shares issued upon the exercise of directors' options and in £1.58 million (before expenses) being received by the company, which will be used for future working capital.
The company is very pleased to see Gartmore Investment increasing its shareholding. Following completion of these transactions, Gartmore will hold 5.2 million shares in the company representing 3.3% of the total issued share capital.
The share options (granted under the company's 2004 Unapproved Share OptionScheme) and shareholdings of all the directors are set out in the followingtable. Holding before Options Shares Holding after transactions transactions exercised sold Director Number of Number of Number of Number of % of options ordinary options ordinary issued shares shares ordinary shares
John Kearney 5,400,000 - 400,000 400,000 5,000,000 - 3.3% Bill Hooley 2,900,000 100,000 400,000 400,000 2,500,000 100,000 1.7% Ian 2,100,000 1,027,300 400,000 400,000 1,700,000 1,027,300 1.8%
Cuthbertson David Lean 700,000 - - - 700,000 - 0.5% Howard Miller 900,000 - 300,000 300,000 600,000 - 0.4% Roger Turner 1,100,000 - 600,000 600,000 500,000 - 0.3% Danesh Varma 1,400,000 - 400,000 400,000 1,000,000 - 0.7%
The new ordinary shares of 1 pence each to be issued in respect of these transactions will rank pari passu with the existing ordinary shares of the company. All transactions are conditional on the admission of the new ordinary shares to the Official List and to trading on the London Stock Exchange's main market for listed securities by not later than 23 January 2011. Application will be made for these shares to be admitted to both the Official List and to trading on the London Stock Exchange's main market for listed securities and it is expected that such admission will become effective and dealings will commence on 13 January 2011.
Following the allotment of these new ordinary shares becoming unconditional, the issued ordinary share capital of the company will be 158,158,051 ordinary shares of 1 pence each with voting rights; there are no shares held in treasury. This figure may be used by shareholders as the denominator for the calculations which will determine whether they are required to notify their interest in the company, or any change to that interest, under the Financial Service Authority's Disclosure and Transparency Rules.
About Anglesey Mining plc
Anglesey Mining with its LSE main board listing is primarily focused on its 41% interest in Labrador Iron Mines . In addition to any new projects that may be brought forward the company owns 100% of Parys Mountain in North Wales with an historical resource in excess of 7 million tonnes at over 9% combined copper, lead and zinc.
For further information, please contact:
Bill Hooley, Chief Executive +44 (0) 1492 541981
Ian Cuthbertson, Finance Director +44 (0) 1248 361333
Emily Fenton / Charlie Geller,Tavistock Communications +44 (0) 20 7920 3155 / +44 (0) 7788 554035
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