Holding(s) in Company

RNS Number : 1084L

Equatorial Mining & Exploration PLC

23 April 2015

 



Equatorial Mining & Exploration Plc

Cancellation of Shares

On 24^th October 2014, the Company announced the issue of 350,740,000 ordinary shares following the exercise of options by three of the Company's directors: Nicholas Nelson, Alyn Evans and Shane Moloney.  Mr Moloney ceased to be a director of the Company on 1^st December 2014. The exercises took place in order to improve the clarity of the Company's capital structure in preparation for a future transaction.

Following guidance received from the Company's advisers, the decision has been made to reverse the issue of ordinary shares, cancel the original options and re-issue the 350,740,000 shares to an Employee Benefits Trust which is being incorporated.

As a result of this cancellation of shares, the total number of shares in issue is 3,905,666,670 and the shares held by the directors and Shane Moloney is as follows:

	Shares now held	Percentage of issued share capital
Nicholas Nelson	150,000,000	3.8%
Alyn Evans	0	0
Shane Moloney	150,000,000	3.8%

.

23rd April 2015

Enquiries:

Equatorial Mining & Exploration Plc Nicholas Nelson, Executive Chairman	[e-mail]
ISDX Adviser: Alfred Henry Corporate Finance Ltd. Jon Isaacs	[phone] [e-mail]
Financial PR and Investor Relations: Walbrook PR Ltd. Guy McDougall Nick Rome	[phone]

The Directors take responsibility for this announcement.

 

END

 

 

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