27th Apr 2006 10:51
Tertiary Minerals PLC27 April 2006 Tertiary Minerals plc www.tertiaryminerals.com Conversion of Loan Notes Tertiary Minerals plc ("the Company") announces that A.H.Algosaibi & Bros. Co.("Algosaibi"), a member of the Saudi consortium funding preliminary and bankablefeasibility studies for the development of the Company's world-class Ghurayyahtantalum-niobium-uranium (zircon-yttrium) project in Saudi Arabia, has electedto convert its entire holding of $US425,000 nominal of convertible loan notesinto ordinary shares in the Company. Under the terms of the convertible loan notes, conversion will take place at 15pper share. Accordingly, Algosaibi will be issued with 1,588,548 new ordinaryshares in the Company. Following conversion, Algosaibi's interest will increasefrom 4.9% to 7.7% of the enlarged issued share capital of the Company. Application will be made for the new ordinary shares to be admitted to tradingon AIM and dealings in these shares are expected to commence at 8.00 a.m. on 4May 2006. Further information please contact:Patrick Cheetham, Tertiary Minerals plc. Tel: +44 (0) 1625-626203.Mob: +44 (0) 7767-458751 John Greenhalgh/Ron Marshman, City of London PR Ltd. Tel: +44 (0) 20-7628-5518 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Tertiary Minerals