Alba Mineral Resources plc (AIM: ALBA) announces that it has completed the disposal of its 5% interest in the Brockham Oil Field to the Operator, Angus Energy.
The consideration, in settlement of certain back costs and a contribution toward eventual abandonment costs, involves the payment by Alba to Angus of £32,000 plus VAT, settled as to £6,400 in cash and £32,000 by the issue of 12,407,910 shares in Alba at the 10-day VWAP of 0.2579p per share.
The Alba Board is pleased to have completed this disposal, which is part of Alba’s drive to rationalise its non-core assets.
Admission to AIM
Application will be made for the new ordinary shares which are to be issued to be admitted to trading on AIM (“Admission”). It is expected that Admission of the new ordinary shares will become effective at 8.00 a.m. on or around 18 June 2021. The new ordinary shares will be issued credited as fully paid and will rank in full for all dividends and other distributions declared, made or paid after Admission and will otherwise rank on Admission pari passu in all respects with the existing ordinary shares.
Total Voting Rights
Following Admission, the total number of ordinary shares in issue will be 6,240,236,899. The Company does not hold any ordinary shares in treasury. Therefore, the total number of ordinary shares with voting rights will be 6,240,236,899. This figure may be used by shareholders in the Company 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 share capital of the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.
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.
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