ALBA MINERAL RESOURCES PLC

AGM Information • Apr 28, 2020

National Storage Mechanism | Additional information

RNS Number : 1778L

Alba Mineral Resources PLC

28 April 2020

Alba Mineral Resources plc

("Alba" or "the Company")

Results of AGM

Alba Mineral Resources plc (AIM: ALBA), the diversified mineral exploration and development company, is pleased to announce that at the Company's Annual General Meeting ("AGM") which was held today at 10 a.m. on 28 April 2020 at The Grange (Regus Office), 100 High Street, London N14 6BN, all the resolutions were voted upon by poll and were duly passed.

The results of the poll for each resolution are as follows:

Resolution	Total Shares Voted	Shares		Percentage
		For	Against	For	Against
1 - To receive and adopt the report of the directors and the financial statements for the period to 30 November 2019	399,517,349	396,804,336	2,713,013	99.321%	0.679%
2 - To re-appoint Mr George Frangeskides as a director of the Company	399,046,428	395,583,415	3,463,013	99.132%	0.868%
3 - To re-appoint Nexia Smith & Williamson as auditors	399,517,349	396,804,336	2,713,013	99.321%	0.679%
4 - To authorise the subdivision and redesignation of the Company's ordinary share capital	399,460,846	395,893,926	3,566,920	99.107%	0.893%
5 - To empower the directors to allot shares pursuant to Section 551 of the Companies Act 2006	399,410,846	395,893,926	3,516,920	99.119%	0.881%
6 - To empower the directors to allot equity securities pursuant to Section 570 of the Companies Act 2006	349,442,970	345,926,050	3,516,920	98.994%	1.006%
7 - To adopt new Articles of Association	348,972,049	348,547,665	424,384	99.878%	0.122%

Share Capital Reorganisation

In addition to the usual business dealt with at the AGM, the Company also sought shareholder approval for a sub-division and redesignation of the Company's ordinary share capital (the "Share Capital Reorganisation"), details of which were included in the explanatory circular sent to Shareholders. The effect of the Share Capital Reorganisation is to reduce the par (or nominal) value of the Company's existing ordinary share capital from £0.001 to £0.0001 per share.

Following the passing of the Share Capital Reorganisation resolutions at the AGM today, being Resolutions 4 and 7, the Company's issued ordinary share capital, previously being 3,918,351,946 Ordinary Shares of £0.001 (0.1p) each ("Old Ordinary Shares"), is now 3,918,351,946 Ordinary Shares of £0.0001 (0.01p) each ("New Ordinary Shares").  As such, the Share Capital Reorganisation has had no impact on the total number of Ordinary Shares in issue, and each Shareholder will have the same number of Ordinary Shares immediately after the Share Capital Reorganisation as they had immediately prior to it.

In addition to the New Ordinary Shares, there are now two classes of Deferred Shares in issue, being 93,070,100 Deferred Shares of £0.009 (0.9p) each, which were in issue prior to the Share Capital Reorganisation, and 3,918,351,946 B Deferred Shares of £0.0009 (0.09p) each, which were created pursuant to the Share Capital Reorganisation. These Deferred Shares and B Deferred Shares have very limited rights attaching to them and are effectively valueless. 

Admission to AIM

The Share Capital Reorganisation is conditional upon the New Ordinary Shares being admitted to AIM. It is expected that Admission will become effective at 8.00 am on or around 29 April 2020. Following Admission, the Company's issued share capital will comprise 3,918,351,946 ordinary shares with voting rights. 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.

The ISIN in respect of the Company's Ordinary Shares will remain unchanged in respect of the New Ordinary Shares. Existing share certificates will continue to be valid and no share certificates will be issued in respect of the B Deferred Shares.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact:

Alba Mineral Resources plc George Frangeskides, Executive Chairman	+44 20 3907 4297
Cairn Financial Advisers LLP (Nomad)  James Caithie / Liam Murray	+44 20 7213 0880
First Equity Limited (Broker) Jason Robertson	+44 20 7374 2212

Alba's Project and Investment Portfolio

Project (commodity)	Location	Ownership
Mining Projects
Amitsoq (graphite)	Greenland	90%
Clogau (gold)	Wales	90%
Inglefield (copper, cobalt, gold)	Greenland	100%
Limerick (zinc-lead)	Ireland	100%
Melville Bay (iron ore)	Greenland	51%
TBS (ilmenite)	Greenland	100%
Oil & Gas Investments
Brockham (oil)	England	5%
Horse Hill (oil)	England	11.765%

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