Block admission (1793R)

TIDMBRDY

RNS Number : 1793R

Brady Exploration PLC

31 October 2011

Brady Exploration plc

(the "Company")

Block admission

As announced on 26 October 2011, following the passing of the Resolutions at the General Meeting, a warrant instrument has been executed enabling the Company to issue Warrants to subscribe for up to 18,341,757 new Ordinary Shares at an exercise price of 1.15p per Ordinary Share. Warrants have been issued to the holders of the Ordinary Shares as at 7 October 2011 on the basis of one Warrant for each Ordinary Share held and 2,083,333 Warrants have been issued to Ian Jefferson in respect of the Conversion Shares. Furthermore, Warrants to subscribe for 4,347,826 new Ordinary Shares have been issued to Alex Borrelli (Chairman).

Following Completion, there will be 18,341,757 Warrants in issue. Each Warrant will be exercisable for a period of 12 months ending on 26 October 2012. No application will be made for the Warrants to be admitted to trading on AIM or any other market operated by a recognised investment exchange. It is anticipated that certificates for the Warrants will be posted on or around 9 November 2011.

The Company has made an application to the London Stock Exchange for the block admission of the 18,341,757 Ordinary Shares capable of being issued on exercise of the Warrants (the "Warrant Shares"). Admission of the Warrant Shares is expected to take place on 1 November 2011.

Definitions in this announcement are consistent with those set out in the Circular issued to Shareholders of the Company and dated 10 October 2011, a copy of which is available on the publications section of the Company's website (www.bradyexploration.com).

For further information, please contact:

 
 Brady Exploration plc 
 Alex Borrelli                   +44 7747 020 600 
 
 Allenby Capital Limited 
 (Nominated Adviser and 
  Joint Broker) 
 Nick Naylor/Nick Athanas/Dan 
  Robinson                       +44 20 3328 5656 
 
 Rivington Street Corporate 
  Finance 
 (Joint Broker) 
 Jon Levinson/Dru Edmonstone     +44 20 7562 3357

This information is provided by RNS

The company news service from the London Stock Exchange

END

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