REG - Alba Mineral Resrcs. - Investee Company Update: GreenRoc Mining plc

Alba Mineral ResourcesAnnouncement

08/07/2022 10:15

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RNS Number : 8328R  Alba Mineral Resources PLC  08 July 2022

08 July 2022

Alba Mineral Resources plc

("Alba" or the "Company")

 

Investee Company Update: GreenRoc Mining plc

Alba Mineral Resources plc (AIM: ALBA) is pleased to note the announcement
today by its portfolio company, GreenRoc Mining plc ("GreenRoc") (AIM:
GROC).  Alba holds a 54% majority interest in GreenRoc. The announcement is
set out below without material changes.

GreenRoc Mining plc

("GreenRoc" or the "Company")

 

Grant of Share Options

GreenRoc Mining Plc (AIM: GROC), a company focused on the development of
critical mineral projects in Greenland, announces the grant on 8 July 2022 of
1,000,000 share options over ordinary shares in the Company ("Options") to
Stefan Bernstein, Chief Executive Officer of the Company, as follows:

Option Award

 Director / Senior Management   New Options  Exercise price  Vesting Date  Total Options Granted
 Mr Stefan Bernstein            333,333      10 pence        1 July 2023
                                333,333      10 pence        1 July 2024
                                333,334      10 pence        1 July 2025
 Total                          1,000,000                                  1,000,000

 

The Options are awarded subject to the terms, conditions and rules set out in
the Greenroc Mining Plc Long Term Incentive Plan (the "LTIP Rules").

 

Subject as aforesaid, the Options shall be exercisable at the exercise price
and from the vesting dates set out above, unless an earlier event occurs to
cause them to become exercisable or to lapse under the LTIP Rules.

The Options shall lapse on 28 September 2026, to the extent they are not
exercised before then and provided no event occurs to cause them to lapse
earlier under the LTIP Rules.

The Options granted represent approximately 0.9% of the current issued share
capital of the Company. On a fully diluted basis the Options represent
approximately 0.9% of the enlarged issued share capital of the Company
(assuming the Options are exercised in full and no additional ordinary shares
are issued save for those in connection with such exercise).

 

**ENDS**

 

For further information, please visit www.albamineralresources.com
(http://www.albamineralresources.com/)  or contact:

 

Alba Mineral Resources plc

George Frangeskides, Executive Chairman    +44 20 3950 0725 

 

SPARK Advisory Partners Limited (Nomad) 

Andrew Emmott  +44 20 3368 3555 

 

ETX Capital (Broker)

Thomas Smith  +44 20 7392 1494

 

St Brides Partners (Financial PR)

Isabel de Salis / Catherine Leftley    alba@stbridespartners.co.uk

 

 

Alba's Projects and Investments

 Mining Projects Operated by Alba       Location       Ownership
 Clogau (gold)                          Wales          90%
 Dolgellau Gold Exploration (gold)      Wales          90-100%
 Gwynfynydd (gold)                      Wales          100%
 Limerick (zinc-lead)                   Ireland        100%
 Investments Held by Alba               Location       Ownership
 GreenRoc Mining Plc (mining)           Greenland      54%
 Horse Hill (oil)                       England        11.765%

 

 

 

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