Eurasia Mining Regulatory News (EUA)

25 Feb 2005 10:02

Eurasia Mining PLC25 February 2005 EURASIA MINING PLC PLACING Eurasia Mining plc ("the Company") is pleased to announce that it has raised£937,500 before expenses by way of a placing of 18,750,000 new Ordinary Sharesof 5p each at 5p per share. Application has been made for the new OrdinaryShares to be admitted to trading on the Alternative Investment Market of theLondon Stock Exchange and dealings are expected to commence on 3 March 2005.The shares will rank pari passu with the existing shares in issue. The totalnumber of shares in issue following the placing is 103,761,717. For every four Ordinary Shares subscribed for in the placing, the placees are toreceive one warrant to subscribe for Ordinary Shares at a price of 6p per share("the Warrants"). The Warrants are unlisted, non-transferable and will expire on3 March 2006. As a result of the placing, the Company will have 9,348,214warrants in issue. The funding was completed principally to provide finance for the development ofthe Kola Project in north-western Russia, as well as for new projectopportunities and ongoing working capital. As required by sections 324 to 328 of the Companies Act 1985 and Rule 15(a) ofthe Alternative Investment Market, the following information falls to bedisclosed. As part of the placing, Managing Director Christian Schaffalitzkyacquired 200,000 Ordinary Shares, increasing his holding to 1,838,428 shares,representing 1.77 per cent. of the Company's enlarged issued share capital. Mr.Schaffalitzky has also been granted 50,000 Warrants and is now interested in atotal of 67,857 warrants to subscribe for Ordinary Shares in the share capitalof the Company. The placing was undertaken by W. H. Ireland Limited, the Company's nominatedadviser and broker, and Equest Partners Limited ("Equest") acted as placingagent. Equest will be granted 1,000,000 Warrants in respect of their role inthe placing. The following information relating to significant shareholdings also falls to bedisclosed: Number of shares Percentage of acquired under the enlarged issued Placing Resultant share capital No. of warrants shareholding heldShareholderFirebird Global Master Fund 3,000,000 12,507,428 12.05 3,126,857Brewin Nominees (Channel 5,200,000 5,200,000 5.01 1,300,000Islands) Ltd. For further information contact: Christian Schaffalitzky, Eurasia Mining plc Tel: +44 (0) 20 7976 1222David Youngman, W.H. Ireland Ltd. Tel: +44 (0) 161 832 6644 This information is provided by RNS The company news service from the London Stock Exchange