Amara Mining plc: Directors' Dealings
23.12.2013 | Marketwired
LONDON, Dec 23, 2013 - Amara Mining PLC (AIM: AMA) (TSX: AMZ) ("Amara" or "the Company"), the AIM-listed West African focused gold mining company, announces that at a meeting of the Company held on 13 December 2013, it was agreed that the non-executive directors of Amara (Messrs Peter Cowley, Hendrik Faul, Peter Hain and Geoff Stanley) would each be issued with new ordinary shares of 1p each in the Company ("Ordinary Shares") to the value of GBP5,000, in accordance with the terms of their individual letters of appointment.In total, 255,706 new Ordinary Shareshave been issued at a price of 12.00p, being the closing price on 12 December 2013.
Mr Stanley was issued with an additional 100,000 Ordinary Shares in recognition for the role he played in introducing Amara to RDV Corporation, which facilitated the acquisition of various assets from of Amlib Holdings plc by the Company ("the Transaction"). Announced on 07 November 2013, the Transaction brought Amara a long-term supportive shareholder, US$10 million cash, a drilling services company and three grassroots exploration assets in Liberia. Amara did not pay any brokerage fees due to the introduction by Mr Stanley and the additional Ordinary Shares granted to Mr Stanley are the only remuneration any party will receive in relation to proposing the Transaction.
The details of each director's interestareset out below:
Non-Executive Shares Previous New Percentage of
Director Issued Holding Holding Enlarged Share
Capital (%)
Peter Cowley 41,666 33,775 83,284 0.038
Hendrik Faul 41,666 7,843 49,509 0.022
Peter Hain 30,708 82,372 113,080 0.051
Geoff Stanley 141,666 22,056 171,565 0.078
Pursuant to the above issue of shares, the Company has made application to the London Stock Exchange for 255,706 new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective on 30 December 2013.
Following Admission, the total issued share capital of the Company will be220,215,954 Ordinary Shares, all of which have voting rights.
The above figure of 220,215,954 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 share capital ofAmara under the FSA's Disclosure and Transparency Rules.
About Amara Mining plc
Amara is a gold developer-producer with assets in West Africa. The Company generates cash flow through its Kalsaka/Sega gold mine in Burkina Faso. Amara remains focused on its objective of becoming a mid-tier producer through the development of its Baomahun project in Sierra Leone and its Yaoure project in Cote d'Ivoire. With its experience of bringing new mines into production and a project pipeline spanning four countries, Amara aims to further increase its production profile with highly prospective opportunities across all assets.
For more information please contact:
Amara Mining plc
+44 (0)20 7398 1420
Catherine Apthorpe, Company Secretary
Katharine Sutton, Head of Investor Relations
Peel Hunt LLP
+44 (0)20 7418 8900
(Nominated Adviser & Joint Broker)
Matthew Armitt / Ross Allister
GMP Securities Europe LLP
+44 (0)20 7647 2800
(Joint Broker)
Richard Greenfield / David Wargo
Bell Pottinger - Pelham
+44 (0)20 7861 3232
(Financial Public Relations)
Charlie Vivian / Mark Antelme / James Macfarlane
This information is provided by RNS
The company news service from the London Stock Exchange
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