19th Oct 2015 11:29
LONDON (Alliance News) - Alba Mineral Resources PLC shares dropped on Monday after it said it has raised GBP385,000 after conducting a placing of 154.0 million new shares at 0.25 pence per share.
Alba shares were down 10% to 0.315p on Monday afternoon.
The company has also agreed to grant the subscribers warrants to subscribe for further shares, on the basis of one share for every three new shares subscribed, resulting in the issue of warrants to subscribe for a total of over 51.3 million shares to the subscribers.
The new warrants are exercisable at a price of 0.5p within 18 months following the date of grant.
By Joshua Warner; [email protected]; @JoshAlliance
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