4th May 2006 14:05
Eurasia Mining PLC04 May 2006 4 May 2006 For immediate release EURASIA MINING PLC Allotment of Shares and Exercise of Convertible Redeemable Loan Notes 2008 Eurasia Mining plc (the "Company") announces that on 28 April 2006 it approvedthe allotment of 10,000,000 ordinary shares of 5p each in the share capital ofthe Company ("Consideration Shares") to Audley Properties Limited pursuant tothe terms of the sale and purchase agreement dated 3 February 2006 (the "Agreement"). The issue of the Consideration Shares, along with a payment ofUS$1,500,000, which was paid in two instalments on 14 February 2006 and 24February 2006 represents all the consideration due under the Agreement for theacquisition of the entire issued share capitals of Yuksporskaya Mining Companyand Terskaya Mining Company (the holders of the three exploration licences,Volchetundra, Monchetundra and West Imandra in the Murmansk Region of northwestRussia and which have been referred to in earlier announcements as the Kolainterests). The Company also announces that on 28 April 2006 it allotted 750,000 ordinaryshares of 5p each in the share capital of the Company ("Arrangement Shares") toEquest Partners Limited pursuant to the terms of engagement agreed on 5September 2005 under which Equest Partners Limited agree to facilitate andmanage the completion of the Agreement ("the "Arrangement"). The issue of theArrangement Shares represents all the consideration due under the Arrangement. Finally the Company announces that on 28 April 2006 Norman Terret, a holder ofan Unsecured Convertible Redeemable Loan Note (the "Loan Note") elected toconvert 1 Loan Note (a principal amount of £10,000) into 200,000 ordinary sharesin the share capital of the Company at a price of 5p per ordinary share (the "Loan Note Shares"). Application will be made for the Consideration Shares, Arrangement Shares andLoan Note Shares (the "New Ordinary Shares") to be admitted to AIM and they areexpected to be admitted to trading on AIM on 10 May 2006. The total number of issued ordinary shares in the Company, including the NewOrdinary Shares, is now 123,111,717 ordinary shares of which Audley PropertiesLimited will hold 8.1%. For further information contact: Christian Schaffalitzky, Eurasia Mining plc Tel: +44 (0) 20 7976 1222David Youngman, W.H. Ireland Ltd. Tel: +44 (0) 161 832 6644 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Eurasia Mining