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West African Mineral (WAFM)

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Friday 27 January, 2012

West African Mineral

Director's Dealings

RNS Number : 2717W
West African Minerals Corporation
27 January 2012
 



For immediate release:  27 January 2012

 

 

WEST AFRICAN MINERALS CORPORATION

 ("Group")

 

Director's Dealings

 

The Group was informed on 26th January 2012that Mr Guy Elliot, a Director, purchased 200,000 Ordinary Shares at an average price of 16.5 pence per share.  As a result of this purchase Mr Elliott holds 1,000,000 Ordinary Shares in his own name and 200,000 in the name of Vidacos Nominees Limited on behalf of the Elliott Family Irrevocable Trust, a connected party.

 

The total Ordinary Shares in which Mr Elliott has a direct and indirect interest is 1,200,000, representing 0.64% of the issued Ordinary Share capital of the Group.

 

The 200,000 Ordinary Shares purchased by Mr Elliott will be locked in under Rule 7 of the AIM Rules for Companies until 9 January 2013, being the first anniversary of Admission, ("Rule 7 Lock-in") and will be subject to orderly market arrangements during the following twelve months after the initial one year lock-in period ("OMA Lock-in").  As a result of these purchases the Directors and their related parties, applicable employees and substantial shareholders (each as defined in the AIM Rules for Companies) hold voting rights in respect of 93,535,242 Ordinary Shares representing approximately 49.79 per cent. of the Company's issued ordinary share capital, all of which will be locked-in under the Rule 7 Lock-in and the OMA Lock-in.

 

Ends

 

 

For further information:

West African Minerals Corporation

Religare Capital Markets (UK) Limited

Beaumont Cornish Limited

Evolution Securities          Limited

GTH Communications

Denham Eke

Peter Trevelyan-Clark

Emily Staples

 

Roland Cornish

Neil Elliot

Chris Sim

Toby Hall

Suzanne Johnson Walsh

 

+44 (0) 1624 639396

+44 (0) 20 7444 0800

+44 (0)20 7628 3396

+44 (0)20 7597 5970

+44 (0) 20 3103 3902

 

About West African Minerals Corporation

West African Minerals Corporation (AIM: WAFM) is a mining investment company focused on iron ore exploration in West Africa. Through its acquisition of Ferrum Resources, it holds interests in Cameroon and Sierra Leone as well as having applications pending in Guinea. Further information on the Group is available at www.westafricanminerals.com.

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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