Issue of Equity

19 Nov 2009 07:00

19 November 2009

Maghreb Minerals plc

Issue of Equity

The Directors of Maghreb Minerals plc ("the Company") announce that, following the Extraordinary General Meeting of the Company held on 12 November 2009, and in accordance with the Subscription provisions contained in the circular sent to Shareholders on 20 October 2009 ("the Circular"), the Company has allotted 20,000,000 new ordinary shares of £0.006 each in the Company at a price of 1.5p per share.

In accordance with the information contained in the Circular, 13,333,334 new ordinary shares have been allotted to Firebird Global Master Fund II Limited and today have been admitted to trading on AIM. 

The balance of new shares have been allotted to Albert Gourley and are to be admitted to trading on AIM on 24 November 2009 in accordance with the terms of a subscription undertaking, details of which are contained in the Circular.

Following the allotment of new shares, there are 111,033,981 ordinary shares of £0.006 in issue with each share carrying the right to one vote; and 22,222,222 convertible preference shares of £0.006 having the rights attached detailed in the Company's Articles of Association. 

ENQUIRIES: