Tertiary Minerals Regulatory News (TYM)

15 May 2006 07:01

Tertiary Minerals PLC15 May 2006 www.tertiaryminerals.com 15 May 2006 Conversion of Loan Notes Tertiary Minerals plc ("the Company") announces that Al Nahla Trading &Contracting Co. ("Al Nahla"), a member of the Saudi consortium fundingpreliminary and bankable feasibility studies for development of the Company'sworld-class Ghurayyah tantalum-niobium-zircon (yttrium-uranium) project in SaudiArabia, has also elected to convert its entire holding of $US425,000 nominal ofconvertible loan notes into ordinary shares in the Company. Under the terms of the convertible loan notes, conversion will take place at 15pper share. Accordingly, Al Nahla will be issued with 1,503,095 new ordinaryshares in the Company. This follows the conversion, announced on 27 April, ofconvertible loan notes held by A.H.Algosaibi & Bros. Co. and consequently allconvertible loan notes previously issued have now been converted. As a result ofconversion Al Nahla's interest will increase from 4.7% to 7.3% of the enlargedissued share capital of the Company. Application will be made for the new ordinary shares to be admitted to tradingon AIM and dealings in these shares are expected to commence at 8.00 a.m. onThursday 18 May 2006. Further information please contact:Patrick Cheetham, Tertiary Minerals plc. Tel: +44 (0)1625-626203. Mob: +44 (0)7767-458751 John Greenhalgh/Ron Marshman, City of London PR Ltd. Tel: +44 ( 0)20-7628-5518 This information is provided by RNS The company news service from the London Stock Exchange