Total voting rights
May 01 2009 - 8:52AM
UK Regulatory
TIDMMVA
AIM
Release
1 May 2009
Minerva Resources Plc (AIM:MVA)
('Minerva Resources' or 'the Company')
Total Voting Rights
For the purposes of the transitional provisions of the Financial
Services Authority's Disclosure and Transparency Rules, the Company's
total issued share capital at the date of this notice is 154,294,458.
As approved at the General Meeting on 25 February 2009, the Company
has conducted a reorganisation of the share capital, the effect of
which is that for each issued Ordinary Share currently held, a
shareholder will be issued with one New Ordinary Share of 0.25p and
one Deferred Share with a nominal value of 2.25p. There was no change
in the number of Ordinary Shares in issue, and since the rights of
the Deferred Shares were such that they have no economic value, the
market price of a New Ordinary Share is therefore the same as the
market price of an existing Ordinary Share prior to the
reorganisation. In addition, the Company reorganised its authorised
but unissued share capital to the effect that each authorised but
unissued Ordinary Share of 2.5p will be subdivided into 10 New
Ordinary Shares of 0.25p. Following this the unissued Ordinary Shares
will have the same nominal value as the New Ordinary Shares.
The Company's issued share capital therefore consists of 154,294,458
ordinary shares of 0.25p each, with one voting right per share. There
are no shares held in treasury.
The total number of voting rights in the Company is therefore
154,294,458.
The above figure of 154,294,458 may be used by shareholders as the
denominator for the calculations by which they will determine if they
are required to notify their interest in, or a change to their
interest in, the Company, under the Disclosure and Transparency
Rules.
For further information please contact:
Terry Ward
Minerva Resources plc
Tel: +44 (0)20 73795012/(0) 798571576
E-mail: terry.ward@minervaresources.com
twardafl@yahoo.co.uk
Web: www.minervaresources.com
James Joyce / Sarang Shah
W. H. Ireland
Tel: +44 (0)20 72201666
James.joyce@wh-ireland.co.uk
Nick Rome
Bishopgate Communications Ltd
Tel: +44 (0)20 75623350
E-mail: nick@bishopgatecommunications.com
Notes to Editors
Minerva Resources plc is a UK based mineral exploration and
development company quoted on London's Alternative Investment Market
(AIM:MVA). The Company is intent on delivering shareholder value by
increasing and developing its mineral resources in a socially and
environmentally responsible manner.
The main focus is resource development in Ethiopia where the Company
has first-mover advantage on prospective ground on the Arabian-Nubian
shield. Key projects include the gold resources at the Tulu Kapi
Project, plus the Gudeya-Guji, Guji and Dina Prospects and the Yubdo
Platinum Mine, located in western Ethiopia, some 560km west of Addis
Ababa.
Tulu Kapi was mined in the 1930s by an Italian company. In the 1970s,
the United Nations Development Programme mapped and drilled Tulu
Kapi. Tan Range Exploration carried out soil sampling, further
mapping and drilling in the 1990s. These two phases of work confirmed
mineralisation extending over a strike length of 1.5km.
Minerva Resources has completed 33 diamond drill holes to date, at
Tulu Kapi, on its resource drilling programme on a 600m section,
after encouraging Minerva Resources ground mapping, data
reinterpretation and excellent scout drilling results.
Scout drilling programmes have been completed at the Gudeya-Guji,
Guji and Dina gold prospects, which are located in close proximity to
Tulu Kapi. The drilling has shown mineralised intersections on all
three prospects.
The results from the drilling on Tulu Kapi, which are shown in the
latest drilling report announcement on the Company's website,
www.minervaresources.com, and the satellite prospects and their close
proximity point towards a new gold province with the potential for
the establishment of a 'one treatment plant - multiple feed
scenario'.
The Company is examining the potential to expand the small scale
platinum production operations at Yubdo, some 25km from the Tulu Kapi
Project. A pilot gravity recovery plant has been installed, a
metallurgical research programme has been initiated and further
exploration activities have commenced on the 9km by 1.5km surface
expression of the orebody.
In Sierra Leone, the Company holds gold, platinum and diamond
exploration licences, which will for the most part continue to be
developed by existing Joint Venture partners.
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This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
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