30 May 2008 10:15
| TR-1: Notifications of Major Interests in Shares |
| 1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: | MAGHREB MINERALS PLC | ||
| 2. Reason for notification (yes/no) | |||
| An acquisition or disposal of voting rights | Yes | ||
| An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached | No | ||
| An event changing the breakdown of voting rights | No | ||
| Other (please specify):______________ | |||
| 3. Full name of person(s) subject to notification obligation: | James Passin, in his capacity as member of: FGS Advisors, LLC; and FG2 Advisors, LLC.
| ||
| 4. Full name of shareholder(s) (if different from 3): | Firebird Global Master Fund, Ltd. Firebird Global Master Fund II, Ltd. | ||
| 5. Date of transaction (and date on which the threshold is crossed or reached if different): | 28 May 2008 | ||
| 6. Date on which issuer notified: | 29 May 2008 | ||
| 7. Threshold(s) that is/are crossed or reached: | From 6.0% to and including 24.0% | ||
| 8: Notified Details | |||||||
| A: Voting rights attached to shares | |||||||
| Class/type of shares If possible use ISIN code | Situation previous to the triggering transaction | Resulting situation after the triggering transaction | |||||
| Number of shares | Number of voting rights | Number of shares | Number of voting rights | Percentage of voting rights | |||
| Direct | Indirect | Direct | Indirect | ||||
| Ordinary ISIN Number GB00B046T172 | 5,310,000 | 5,310,000 | 21,902,824 | Nil | 21,902,824 | Nil | 24.1% |
| B: Financial Instruments | ||||
| Resulting situation after the triggering transaction | ||||
| Type of financial instrument | Expiration date | Exercise/ conversion period/date | No. of voting rights that may be acquired (if the instrument exercised/converted) | Percentage of voting rights |
| Total (A+B) | |
| Number of voting rights | Percentage of voting rights |
| 21,902,824 | 24.1% |
| 9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable: |
| The voting rights associated with the shares described in Question 8 are held directly by Firebird Global Master Fund II, Ltd., which holds the voting rights associated with 8,000,000 ordinary shares of the issuer, representing approximately 8.8% of the total voting rights of the issuer, and by Firebird Global Master Fund II, Ltd., which holds the voting rights associated with 13,902,824 ordinary shares of the issuer, representing approximately 15.3% of the total voting rights of the issuer. FGS Advisors, LLC serves as the investment manager of Firebird Global Master Fund, Ltd. and FG2 Advisors, LLC serves as the investment manager of Firebird Global Master Fund II, Ltd. Both FGS Advisors, LLC and FG2 Advisors, LLC are controlled by James Passin, who controls the exercise of these voting rights. |
| Proxy Voting: | |
| 10. Name of proxy holder: | |
| 11. Number of voting rights proxy holder will cease to hold: | |
| 12. Date on which proxy holder will cease to hold voting rights: | |
| 13. Additional information: | |
| 14 Contact name: | James Passin |
| 15. Contact telephone name: | +1 212 698 9260 |
For notes on how to complete form TR-1 please see the FSA website.
ENQUIRIES:
Maghreb Minerals Plc Tel: +44 (0) 207 556 0940
Richard Collier, Chief Executive
Hanson Westhouse Limited Tel: +44 (0) 207601 6100
Tim Metcalfe / Martin Davison
Bankside Consultants Tel: +44 (0) 207367 8888
Michael Padley / Michael Spriggs