Business
Issue of Equity - correcting announcement
Issue of Equity - correcting announcement.
About this update from Alba Mineral Resources Plc
[{"type":"text","content":"\n \nRNS Number : 1352S Alba Mineral Resources PLC 28 September 2017 \n\n \nAlba Mineral Resources plc\n(“Alba” or “the Company”)\n \nShare allotments Correcting announcement\nThe Company’s announcement of 28 September 2017 in respect of a notification of share allotments incorrectly stated the issue price of the shares allotted as 0.04 pence per share. This should have read 0.4 pence per share.\n \nThe full amended announcement is shown below and all other details contained in the announcement remain unchanged.\n \nAlba Mineral Resources plc\n(“Alba” or “the Company”)\n \nShare allotments\n \nAlba Mineral Resources plc (AIM: ALBA), the UK-based exploration company, announces that Executive Chairman George Frangeskides and Non-Executive Director Michael Nott have each subscribed for 7,500,000 ordinary shares in the Company, for a total subscription price of £60,000. These directors were not able to participate in the Company's last placing (announced on 25 August 2017) due to normal market rules, however they now do so on the same terms as the placing, namely at a price of 0.4 pence per share. \n \nThe Company has also agreed to settle certain transaction-related fees and consultants' fees by the issue of a total of 4,760,750 fully paid ordinary shares, also at a price of 0.4 pence per share.\n \nAdmission to AIM \n \nApplication will be made for the new ordinary shares to be admitted to trading on AIM (“Admission”). It is expected that Admission will become effective at 8.00 a.m. on 3 October 2017. The new ordinary shares will be issued credited as fully paid and will rank in full for all dividends and other distributions declared, made or paid after Admission and will otherwise rank on Admission pari passu in all respects with the existing ordinary shares. \n \nRelated Party Transactions\n \nThe subscriptions described above by George Frangeskides and Michael Nott are deemed to be related party transactions for the purposes of Rule 13 of the AIM Rules. Mr Manuel Lamboley, being the sole independent director of the Company for the purposes of the awards, considers, having consulted with the Company's Nominated Adviser, that the subscriptions are fair and reasonable in so far as the Shareholders are concerned.\n \nTotal Voting Rights\n \nFol...