Brokered placing and grant of share options

About this update from Alien Metals Ltd

[{"type":"text","content":"\n \nALIEN METALS\n\n Trading SymbolsAIM: UFOFWB: I3A1\n\n14 May 2019\n\nAlien Metals Ltd(“Alien” or “the Company”)\n\nBrokered placing and grant of share options\n\nAlien Metals Ltd, the AIM quoted exploration and development company, is pleased to announce that it has raised £300,000, before expenses, through the placing of 200 million Common shares or no par value (“New Common Shares”) at a price of 0.15 pence each (“the Placing”) through its broker First Equity Limited (“First Equity”). The proceeds of the Placing will be used for further exploration work at Donovan 2 as detailed below and general working capital purposes.\n\nPeter Taylor, CEO of Alien, commented: “This modest round of strategic funding underwrites our ability to scout drill the Volcanogenic Massive Sulphide (“VMS”) at Donovan 2 should the results of the gravity survey offer a justified business case. We are in the process of collating additional assays, structural data from underground exploration and interpreting results of the gravity survey. Subject to this, we remain on track to commence drilling in Q2 2019.”\n\nThe Placing is conditional only on the New Common Shares being admitted to trading on AIM (“Admission”). Application will be made to the London Stock Exchange for the 200,000,000 New Common Shares to be admitted to trading on AIM. Admission of the New Common Shares is expected to become effective at 8:00 am on or around 21 May 2019.\n\nFollowing Admission, the Company will have 1,118,389,941 Common shares of no par value in issue. The Company has no shares in treasury, therefore the figure of 1,118,389,941 should be used by shareholders for the calculations by which they will determine if they are required to notify their interest in, or a change of their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.\n\nGrant of share options\n\nFurther to the announcement on 12 April 2019, that Dennis Edmonds had ceased to act as a Director of the Company, the rules of the Company’s share option plan determined that Mr Edmonds’ existing 17,142,373 share options would lapse. The Board have now agreed to retain and restate Mr Edmonds options in recognition of the contribution he has made to the Company in accordance with his resignation. Options over 17,142,373 Common S...

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