Sign In
Last checked at 
5 Sep 2014 14:19
Eurasia Mining plc
("Eurasia" or the "Company")
Subscription Agreement
Issue of Equity
Directors Trades
Eurasia Mining plc ("Eurasia" or "the Company"), the PGM exploration and development company focused on Russia, announces that it has issued 71,758,663 Ordinary Shares of 0.1 pence at 0.48 pence per share (the "New Shares") in settlement of invoices for various services, including directors fees and to raise £90,000 for working capital purposes from existing shareholders.
Of the New Shares, 14,417,802 Ordinary Shares are being issued to directors, in lieu of salaries for the last six months, as set out as follows:
Name | Number of New Shares | Total Number of Ordinary Shares held | Percentage of total issued share capital |
Christian Schaffalitzky | 10,404,950 | 31,316,118 | 3.02% |
Gary Fitzgerald | 1,582,292 | 16,909,286 | 1.63% |
Michael Martineau | 2,430,560 | 15,049,185 | 1.45% |
In addition, Deloan Investments Limited, a company owned and controlled by Dmitry Suschov has subscribed for 18,750,000 New Shares, these shares have been issued to Deloan in lieu of outstanding invoices and accordingly Deloan Investments Limited now holds, and Dmitry Suschov is deemed to have an interest in 253,250,000 Ordinary Shares representing 24.42% of the issued share capital of the Company.
Queeld Ventures Limited has subscribed for 18,750,000 New Shares, so that its total shareholding in the Company is now 307,250,000 Ordinary Shares, which maintains Queeld Venture's interest in 29.62% of the total issued share capital of the Company.
Application will be made for the New Shares, which rank pari passu with all existing ordinary shares, to be admitted to trading on AIM ("Admission"). Admission is expected to take place on or around 11 September 2014.
In accordance with AIM Rule 13, and in the absence of any independent directors, WH Ireland as the Company's nominated adviser consider that the terms of this transaction are fair and reasonable insofar as the Company's shareholders are concerned.
Following the issue of the New Shares the number of Ordinary Shares in issue will increase to 1,037,227,334. For the purposes of the Financial Conduct Authority's Disclosure and Transparency Rules ("DTRs"), the issued ordinary share capital of the Company following this allotment consists of 1,037,227,334 Shares with voting rights attached (one vote per Share). There are no Shares held in treasury. This total voting rights figure 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, Eurasia under the DTRs.
For more information please contact:
Eurasia Mining:
Christian Schaffalitzky / Michael de Villiers Tel: +44 (0) 207 932 0418
Katy Mitchell, WH Ireland Limited Tel: +44 (0) 161 832 2174
Follow the stocks
