Business
Subscription of Shares by Directors
Subscription of Shares by Directors.
About this update from Alba Mineral Resources Plc
[{"type":"text","content":"\n \nRNS Number : 7353T Alba Mineral Resources PLC 22 March 2019 \n\n \nAlba Mineral Resources plc\n(\"Alba\" or \"the Company\")\n \nSubscription of Shares by Directors\n \nAlba Mineral Resources plc (AIM: ALBA) is pleased to announce that the Executive Chairman, George Frangeskides, has subscribed for a total of 8,333,333 shares in the Company and Non-Executive Director Michael Nott has subscribed for a total of 6,666,667 shares in the Company, each at a subscription price of £0.003 per share, being a premium of 27.7% above the closing mid-market price on 21 March 2019 of £0.00235 and a premium of 22.9% above the 20 trading day volume weighted average price (\"VWAP\") up to 21 March 2019 of £0.00244. \n \nThe subscription is conditional on the admission of the new ordinary shares to trading on AIM (\"Admission\"). \n \nThe shareholdings of the directors in question both prior to and subsequent to this subscription are as follows:\n \n\n\n\nDirector\n\n\nNo. of shares\n\n\nSubscription shares\n\n\nResultant no. of shares\n\n\n% of issued share capital\n\n\n\n\nGeorge Frangeskides\n\n\n29,559,957\n\n\n8,333,333\n\n\n37,893,290\n\n\n1.16%\n\n\n\n\nMichael Nott\n\n\n45,720,563\n\n\n6,666,667\n\n\n52,387,230\n\n\n1.60%\n\n\n\n \n \nAdmission to AIM\n \nApplication will be made for the 15,000,000 new ordinary shares to be admitted to trading on AIM, and it is expected that Admission will become effective at 8.00 a.m. on or around 29 March 2019. 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 \nTotal Voting Rights\n \nFollowing Admission, the total number of ordinary shares in issue will be 3,276,601,946. The Company does not hold any ordinary shares in treasury. Therefore, the total number of ordinary shares with voting rights will be 3,276,601,946. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's ...