Investee Company Update: GreenRoc Mining plc

RNS Number : 8328R
Alba Mineral Resources PLC
08 July 2022
 

08 July 2022    

Alba Mineral Resources plc

("Alba" or the "Company")

 

Investee Company Update: GreenRoc Mining plc

Alba Mineral Resources plc (AIM: ALBA) is pleased to note the announcement today by its portfolio company, GreenRoc Mining plc ("GreenRoc") (AIM: GROC).  Alba holds a 54% majority interest in GreenRoc. The announcement is set out below without material changes.    

GreenRoc Mining plc

("GreenRoc" or the "Company")

 

Grant of Share Options

GreenRoc Mining Plc (AIM: GROC), a company focused on the development of critical mineral projects in Greenland, announces the grant on 8 July 2022 of 1,000,000 share options over ordinary shares in the Company ("Options") to Stefan Bernstein, Chief Executive Officer of the Company, as follows:

Option Award

Director / Senior Management

New Options

Exercise price

Vesting Date

Total Options Granted

Mr Stefan Bernstein

333,333

10 pence

1 July 2023



333,333

10 pence

1 July 2024



333,334

10 pence

1 July 2025


Total

1,000,000

 

 

1,000,000

 

The Options are awarded subject to the terms, conditions and rules set out in the Greenroc Mining Plc Long Term Incentive Plan (the "LTIP Rules").

 

Subject as aforesaid, the Options shall be exercisable at the exercise price and from the vesting dates set out above, unless an earlier event occurs to cause them to become exercisable or to lapse under the LTIP Rules.

The Options shall lapse on 28 September 2026, to the extent they are not exercised before then and provided no event occurs to cause them to lapse earlier under the LTIP Rules.

The Options granted represent approximately 0.9% of the current issued share capital of the Company. On a fully diluted basis the Options represent approximately 0.9% of the enlarged issued share capital of the Company (assuming the Options are exercised in full and no additional ordinary shares are issued save for those in connection with such exercise).

 

**ENDS**

 

For further information, please visit   www.albamineralresources.com   or contact:    

 

Alba Mineral Resources plc    

George Frangeskides, Executive Chairman    +44 20 3950 0725 

 

SPARK Advisory Partners Limited (Nomad)   

Andrew Emmott  +44 20 3368 3555 

 

ETX Capital (Broker)   

Thomas Smith  +44 20 7392 1494 

 

St Brides Partners (Financial PR)    

Isabel de Salis / Catherine Leftley    alba@stbridespartners.co.uk 

 

 

Alba's Projects and Investments    

Mining Projects Operated by Alba    

Location    

Ownership    

Clogau (gold)    

Wales    

90%    

Dolgellau Gold Exploration (gold)    

Wales    

90-100%    

Gwynfynydd (gold)    

Wales    

100%    

Limerick (zinc-lead)    

Ireland    

100%    

Investments Held by Alba    

Location    

Ownership    

GreenRoc Mining Plc (mining)    

Greenland    

54%    

Horse Hill (oil)    

England    

11.765%    

 

 

 

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