REG - Alba Mineral Resrcs. - Director Subscription, Retail Offer & Equity Issue

Alba Mineral ResourcesAnnouncement

13/11/2024 12:01

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RNS Number : 1148M  Alba Mineral Resources PLC  13 November 2024

 

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE
OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, SOUTH AFRICA OR
JAPAN OR ANY OTHER JURISDICTION WHERE, OR TO ANY OTHER PERSON TO WHOM, TO DO
SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW OR REGULATION.
PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION
(EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM BY VIRTUE
OF THE EU (WITHDRAWAL) ACT 2018.

 

 Alba Mineral Resources Plc / EPIC: ALBA / Market: AIM / Sector: Mining

13 November 2024

Alba Mineral Resources Plc

("Alba" or the "Company") 

 

Director Subscription, Results of Retail Offer and Issue of Equity

 

Alba Mineral Resources plc (AIM: ALBA) announces issues of equity as follows:

 

Director Subscription and Retail Offer

Further to its announcement of 6 November 2024, the Company has conditionally
raised approximately £37,023 (before expenses) via the conditional issue of
123,410,000 new ordinary shares of 0.01 pence each in the capital of the
Company (the "Retail Offer Shares") at a price of 0.03p per share (the "Issue
Price") pursuant to its offer to its existing retail shareholders via CMC CapX
(the "Retail Offer"). The Retail Offer includes a subscription of £20,000 by
George Frangeskides, Chairman of the Company, and £3,000 by Elizabeth Henson,
Non-Executive Director (the "Subscription").

 

The offer was available on fewer platforms than previously which may have
contributed to the lesser take-up of the offer. This was outside the Company's
control. The Company wishes to thank shareholders for their continued support.

 

The Retail Offer is conditional on the Retail Offer Shares being admitted to
trading on the AIM market operated by London Stock Exchange plc ("Admission").
Admission is expected to take place at 8.00 a.m. on or around 18 November
2024.

 

This announcement should be read in its entirety. In particular, the
information in the "Important Notices" section of the announcement should be
read and understood.

 

Settlement of fees

The Company also announces that it has settled approximately £20,000 in fees
via the issue of 50,860,071 new ordinary shares to two suppliers.

 

Director Subscription

 

The table below provides details of the purchase of Shares by Directors of the
Company under the Subscription and their resulting interests following the
purchase. The PDMR forms are set out at the bottom of this announcement.

 

 Director             Subscription (£)   Shares Allotted
 George Frangeskides  £20,000            66,666,667
 Elizabeth Henson     £3,000             10,000,000

 

The Subscription by George Frangeskides and Elizabeth Henson for shares in the
Retail Offer constitutes a related party transaction as defined by the AIM
Rules. The independent director of the Company, Michael Nott, considers,
having consulted with SPARK Advisory Partners Ltd, the Company's nominated
adviser, that the terms of the Subscription are fair and reasonable insofar as
the Company's shareholders are concerned.

 

 

Important Notices

 

The contents of this announcement have been prepared by and issued by the
Company and is the sole responsibility of the Company. The Board of Directors
of the Company are responsible for arranging the release of this announcement
on behalf of the Company.

 

This announcement is not for publication or distribution, directly or
indirectly, in or into the United States of America.

This announcement is not an offer of securities for sale into the United
States.  The securities referred to herein have not been and will not be
registered under the U.S. Securities Act of 1933, as amended, and may not be
offered or sold in the United States, except pursuant to an applicable
exemption from registration. No public offering of securities is being made in
the United States.

This announcement and the information contained herein is not for release,
publication or distribution, directly or indirectly, in whole or in part, in
or into or from Australia, Canada, Japan, the Republic of South Africa, or any
other jurisdiction where to do so might constitute a violation of the relevant
laws or regulations of such jurisdiction.

 

The distribution of this announcement may be restricted by law in certain
jurisdictions and persons into whose possession any document or other
information referred to herein comes should inform themselves about and
observe any such restriction. Any failure to comply with these restrictions
may constitute a violation of the securities laws of any such jurisdiction.

 

CMC CapX is a software and technology platform owned and operated by CMC
Markets UK plc (trading as CMC CapX) (registered address at133 Houndsditch,
London, EC3A 7BX). CMC Markets UK plc ("CMC") is authorised and regulated in
the United Kingdom by the FCA, is acting exclusively for the Company and for
no-one else and will not regard any other person (whether or not a recipient
of this announcement) as its client in relation to the Retail Offer and will
not be responsible to anyone other than the Company for providing the
protections afforded to its clients, nor for providing advice in connection
with the Retail Offer, Admission and the other arrangements referred to in
this announcement.

 

Admission to AIM

Application will be made for the 174,270,071 new ordinary shares to be
admitted to trading on AIM ("Admission"). It is expected that Admission of the
new ordinary shares will become effective at 8.00 a.m. on or around 18
November 2024. 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.

 

Total Voting Rights

Following Admission, the total number of ordinary shares in issue will be
10,911,209,337. The Company does not hold any ordinary shares in treasury.
Therefore, the total number of ordinary shares with voting rights will be
10,911,209,337. 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
Disclosure and Transparency Rules.

 

The Company's LEI is 213800Z1BU53AWR9J329.

 

This announcement contains inside information for the purposes of the UK
Market Abuse Regulation and the Directors of the Company are responsible for
the release of this announcement.

 

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or
anticipated future events and anticipated results that are forward-looking in
nature and, as a result, are subject to certain risks and uncertainties, such
as general economic, market and business conditions, competition for qualified
staff, the regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political jurisdiction,
uncertainties regarding the results of exploration, uncertainties regarding
the timing and granting of prospecting rights, uncertainties regarding the
timing and granting of regulatory and other third party consents and
approvals, uncertainties regarding the Company's or any third party's ability
to execute and implement future plans, and the occurrence of unexpected
events.  Actual results achieved may vary from the information provided
herein as a result of numerous known and unknown risks and uncertainties and
other factors.

 

**ENDS**

 

Engage with Alba by asking questions, watching video summaries and reading
what other shareholders have to say. Navigate to our interactive Investor Hub
here:

https://albamineralresources.com/link/mepw8y
(https://albamineralresources.com/link/mepw8y)

 

For further information, please visit the Alba Mineral Resources plc investor
website (www.albamineralresources.com (http://www.albamineralresources.com) )
and sign up to receive news and engage with the Alba management team.
Subscribe to our news alert service
(https://alba-l.investorhub.com/auth/signup
(https://alba-l.investorhub.com/auth/signup) ) and visit @AlbaMinerals on X
(formerly Twitter).

 

 Alba Mineral Resources plc                 +44 20 3950 0725

 George Frangeskides, Executive Chairman
 SPARK Advisory Partners Limited (Nomad)    +44 20 3368 3555

 Andrew Emmott
 CMC Markets plc (Broker)                   +44 20 3003 8632

 Thomas Smith / Douglas Crippen

 

 

 Alba's Projects & Investments
 Projects Operated by Alba                            Location   Ownership
 Clogau (gold)                                        Wales      100%
 Dolgellau Gold Exploration (gold)                    Wales      100%
 Gwynfynydd (gold)                                    Wales      100%
 Investments Held by Alba                             Location   Ownership
 GreenRoc Strategic Materials Plc (graphite - anode)  Greenland  34.34%
 Horse Hill (oil)                                     England    11.765%

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                                         Mr George Frangeskides

 2    Reason for the notification

 a)   Position/status                                                              Director

 b)   Initial notification /Amendment                                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                                         Alba Mineral Resources plc

 b)   LEI                                                                          213800Z1BU53AWR9J329 

 4    Details of the transaction(s): section to be repeated for (i) each type of

    instrument; (ii) each type of transaction; (iii) each date; and (iv) each
      place where transactions have been conducted

 a)   Description of the financial instrument, type of instrument                  Ordinary shares of 0.01 pence each

      Identification code                                                          GB00B06KBB18

 b)   Nature of the transaction                                                    Subscription for Ordinary shares of 0.01 pence each

 c)   Price(s) and volume(s)

                                                                                   Price(s)        Volume
                                                                                   0.03 pence      66,666,667

 d)   Aggregated information

      - Aggregated volume                                                          N/A

      - Price

 e)   Date of the transaction                                                      13 November 2024

 f)   Place of the transaction                                                     London, UK

 2    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                                         Ms Elizabeth Henson

 2    Reason for the notification

 a)   Position/status                                                              Non-Executive Director

 b)   Initial notification /Amendment                                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                                         Alba Mineral Resources plc

 b)   LEI                                                                          213800Z1BU53AWR9J329 

 4    Details of the transaction(s): section to be repeated for (i) each type of

    instrument; (ii) each type of transaction; (iii) each date; and (iv) each
      place where transactions have been conducted

 a)   Description of the financial instrument, type of instrument                  Ordinary shares of 0.01 pence each

      Identification code                                                          GB00B06KBB18

 b)   Nature of the transaction                                                    Subscription for Ordinary shares of 0.01 pence each

 c)   Price(s) and volume(s)

                                                                                   Price(s)        Volume
                                                                                   0.03 pence      10,000,000

 d)   Aggregated information

      - Aggregated volume                                                          N/A

      - Price

 e)   Date of the transaction                                                      13 November 2024

 f)   Place of the transaction                                                     London, UK

 

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