RNS Number : 1190W
GMA Resources PLC
25 January 2012
25 January 2012 AIM: GMA
GMA Resources Plc
("GMA" or the "Company")
Statement Re. Share Price Movement
The board of directors of GMA note yesterday's movement in the Company's share price and confirms it knows of no reason for this movement.
Further to the announcements issued on 6 and 9 January 2012, little further progress has been made regarding the disposal of Enterprise d'Exploitation des Mines d'Or and completion is not expected in the near future.
The Company currently has 618,002,894 Ordinary Shares in issue and there is, in aggregate, approximately GBP5.5 million of unsecured convertible loan stock which, together with accrued interest, is repayable in full on 31 December 2012, if not converted before that date. Conversion is at the option of the holder at any time prior to 31 December 2012. The conversion price on the loan notes is between 2.25p and 5p.
The Company is seeking to acquire another company or business in exchange for the issue of Ordinary Shares in a single transaction (a "reverse takeover") as per the investing policy described in the announcement dated 21 December 2011.
A further announcement will be made in due course.
GMA Resources Plc Ken Crichton +2 (0) 10766 6118
Merchant Securities +44 (0) 20 7628
Limited (Nomad) David Worlidge 2200
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