Alba Mineral Resources PLC Greenland Spin Out IPO Release of Schedule One (6731K)
September 03 2021 - 3:08AM
UK Regulatory
TIDMALBA
RNS Number : 6731K
Alba Mineral Resources PLC
03 September 2021
Alba Mineral Resources plc
("Alba" or the "Company")
Greenland Spin-Out IPO
Release of Schedule One for GreenRoc Mining Plc
Further to the announcements of 20 July and 31 August 2021
regarding the proposed divestment by Alba Mineral Resources plc
(AIM: ALBA) of its Greenlandic mining assets into a separate
AIM-quoted vehicle, the Company is pleased to announce the release
today by AIM of a Schedule One announcement in respect of GreenRoc
Mining Plc ("GreenRoc"), a link to which is provided here Schedule
One - GreenRoc Mining Plc - 08:00:03 03 Sep 2021 - News article |
London Stock Exchange .
The Schedule One announcement provides at least ten business
days' notice of the expected date of GreenRoc's admission to
trading on AIM ("Admission"), and sets out certain prescribed
information, including the following:
- Gross funds expected to be raised on Admission: GBP5.12m
- GreenRoc's expected market capitalisation on Admission: GBP11.1m
- GreenRoc's Board: Kirk Adams (CEO), George Frangeskides
(Non-Executive Chairman), Jim Wynn (Finance Director), Mark Austin,
Lars Brunner and Mark Rachovides (Non-Executive Directors)
- Expected date of Admission: mid-September 2021
As previously announced, in consideration of the divestment of
its Greenlandic assets to GreenRoc, Alba is to receive GreenRoc
shares valued at GBP6m on Admission, which shareholding is expected
to represent 54.0% of the enlarged share capital of GreenRoc on
Admission.
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.
For further information, please contact:
Alba Mineral Resources plc
George Frangeskides, Executive Chairman +44 20 3950 0725
Cairn Financial Advisers LLP (Nomad)
James Caithie / Liam Murray +44 20 7213 0880
ETX Capital (Broker)
Thomas Smith +44 20 7392 1494
Alba's Project and Investment Portfolio
Project (commodity) Location Ownership
Mining Projects
Amitsoq (graphite) Greenland 100%
----------- ----------
Clogau (gold) Wales 90%
----------- ----------
Gwynfynydd (gold) Wales 100%
----------- ----------
Inglefield (copper, cobalt,
gold) Greenland 100%
----------- ----------
Limerick (zinc-lead) Ireland 100%
----------- ----------
Melville Bay (iron ore) Greenland 100%
----------- ----------
TBS (ilmenite) Greenland 100%
----------- ----------
Oil & Gas Investments
Horse Hill (oil) England 11.765%
----------- ----------
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END
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