PGR.L Regulatory News (PGR)

9 Nov 2007 15:29

Alba Mineral Resources PLC09 November 2007 ALBA MINERAL RESOURCES PLC ("ALBA" or the "Company") Issue of Equity The Board of Alba announce that it has issued and allotted, credited as fullypaid 2,700,000 new ordinary shares in the Company at a price of 1.6 pence pershare to raise £43,200 (the "Placing"). The proceeds of the Placing willprovide additional working capital for the Company. The new ordinary shares will rank pari passu with the existing ordinary shares. Dealings in the new ordinary shares are expected to commence on AIM at 8:00 a.m.on 15 November 2007. Further details of the Placing are set out below:- Placee Number of Alba Number of Alba Percentage shares issued and Shares held interest in the allotted pursuant subsequent to the enlarged issued to the Placing Placing share capital of Alba subsequent to the Placing Andes Energia Plc ("Andes")* 2,700,000 2,700,000 3.6% * Nigel Duxbury, a director of Alba, is also a director of Andes Energia Plc TRANSACTION WITH SUBSTANTIAL SHAREHOLDER Prior to this transaction Andes Energia Plc has an interest in 8,404,762Ordinary representing approximately 12.6 per cent. of the Existing OrdinaryShares. As Andes has an interest in more than 10 per cent. of the ExistingOrdinary Shares, Andes is deemed to be Substantial Shareholders as defined bythe AIM Rules. Andes has subscribed for 2,700,000 new Ordinary Shares under the Placing. The issue of shares to a Substantial Shareholder constitutes a Related PartyTransaction for the purposes of AIM Rule 13. The Directors consider, having consulted with the Company's Nominated Adviser,that the terms of the related party transaction with Andes are fair andreasonable insofar as the Company's shareholders are concerned. Following the issue of equity, Andes will be interested in 11,104,762 ordinaryshares representing approximately 14.7 per cent. of issued share capital of theCompany. TOTAL VOTING RIGHTS Following the issue of equity and in conformity with the Financial ServicesAuthority's Disclosure and Transparency Rules, the Company gives notice that itsvoting capital consists of: Ordinary Shares Nominal Value £ Ordinary Shares held in Treasury 75,570,100 1p 755,701 - As Alba does not hold any ordinary shares in Treasury its total number of votingrights equals its capital. The above figure may be used by shareholders as the denominator for thecalculations by which they will determine if they are required to notify theirinterest in, or a change to their interest in, Alba under the FSA's Disclosureand Transparency Rules. Enquiries: Michael Nott, Director Tel: 020 7495 5326Alba Mineral Resources Plc Liam Murray, Nominated Adviser Tel: 020 7492 4777City Financial Associates Limited This information is provided by RNS The company news service from the London Stock Exchange