17th Oct 2011 16:13
ECR MINERALS plc("ECR Minerals", "ECR" or the "Company")
AIM: ECR
US OTC: MTGDY
ISSUE OF EQUITY & DIRECTOR SHARE DEALING
London: 17 October 2011 - ECR Minerals plc announces that it has issued and allotted a total of 13,636,363 ordinary shares of 0.1p ("New Ordinary Shares") at 1.1p per share in respect of the conversion of convertible loan notes of total principal amount £150,000 held by Fair Choice Limited, a company controlled by Michael Silver, Executive Chairman of ECR.
Following this transaction, Michael Silver is beneficially interested in 17,716,406 ordinary shares of the Company, representing approximately 2.94 per cent of the Company's total issued share capital.
Pursuant to this announcement application has been made for the New Ordinary Shares to be admitted to trading on AIM. Dealings are expected to commence on 21 October 2011.
Following admission of the New Ordinary Shares, the Company will have a total of 602,346,081 ordinary shares of 0.1 pence in issue with each share carrying the right to one vote. The Company has no ordinary shares held in treasury. The total of 602,346,081 ordinary shares may therefore 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 in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.
For further information please contact:
| ECR Minerals plc | ||
| Michael Silver, Chairman | Tel: +44 (0)20 7929 1010 | |
| Patrick Harford, Managing Director | ||
| Stephen Clayson, Director | ||
| Email: [email protected] | ||
| Website: www.ecrminerals.com | ||
| Daniel Stewart & Company plc | ||
| Oliver Rigby/Tessa Smith | Tel: +44 (0)20 7776 6550 | |
| Old Park Lane Capital plc | ||
| Michael Parnes | Tel: +44 (0)20 7493 8188 | |
| Blythe Weigh Communications | ||
| Ana Ribeiro | Tel: +44 (0)20 7138 3204 | |
| Barry Kaplan Associates | ||
| Larry Kaplan | Tel: +1 732 747 0702 |
Copyright Business Wire 2011
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ECR Minerals