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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ecr Minerals Plc | LSE:ECR | London | Ordinary Share | GB00BYYDKX57 | ORD 0.001P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.005 | -1.64% | 0.30 | 0.29 | 0.31 | 0.305 | 0.295 | 0.305 | 13,887,038 | 10:39:21 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMECR
ECR MINERALS plc
("ECR Minerals", "ECR" or the "Company")
AIM: ECR
US OTC: MTGDY
PARTIAL CONVERSION OF LOAN
LONDON: 16 DECEMBER 2014 - ECR Minerals plc announces the issue and allotment of 97,037,767 new ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") at a price of GBP0.001733 (0.1733 pence) per share pursuant to the conversion of US$264,288 of the outstanding principal amount of the convertible loan of US$1.5 million (the "Loan") received from YA Global Master SPV Ltd ("YA Global") and announced on 3 September 2014. Accordingly, the outstanding principal amount of the Loan will be reduced by US$264,288, leaving US$885,712 outstanding.
An additional 13,112,262 new Ordinary Shares are to be issued and allotted to YA Global at a price of GBP0.001733 (0.1733 pence) per share in settlement of accrued interest on the Loan.
Pursuant to this announcement, application has been made for 110,150,029 new Ordinary Shares of the Company to be admitted to trading on AIM. This is expected to occur on 22 December 2014 ("Admission"). Following Admission, ECR's issued ordinary share capital will consist of 3,501,404,283 Ordinary Shares. The new Ordinary Shares will rank pari passu in all respects with the Ordinary Shares of the Company currently traded on AIM.
The total of 3,501,404,283 Ordinary Shares may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
ABOUT ECR
ECR is a mineral exploration and development company with, among other interests, the right to earn a 50% interest in the Itogon gold project in the Philippines. Itogon is an advanced exploration project located in a gold and copper mining district in the north of the Philippines.
ECR has a 100% interest in the SLM gold project in La Rioja Province, Argentina, the exploration strategy for which is to delineate multiple medium to high grade, low tonnage deposits suitable for advancement to production on a relatively low capital, near term basis.
ECR continues to review potential new investments on a highly selective basis, with a concentration on precious, base and strategic metals projects in Asia and South America.
FOR FURTHER INFORMATION PLEASE CONTACT:
ECR Minerals plc Tel: +44 (0)20 7929 1010 Paul Johnson, Non-Executive Chairman Stephen Clayson, Director & CEO Richard (Dick) Watts, Technical Director Email: info@ecrminerals.com Website: www.ecrminerals.com Cairn Financial Advisers LLP Tel: +44 (0)207 148 7900 Nominated Adviser Jo Turner/Liam Murray Daniel Stewart & Company plc Tel: +44 (0)20 7776 6550 Broker Colin Rowbury
FORWARD LOOKING STATEMENTS
This announcement may include forward looking statements. Such statements may be subject to a number of known and unknown risks, uncertainties and other factors that could cause actual results or events to differ materially from current expectations. There can be no assurance that such statements will prove to be accurate and therefore actual results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward looking statements. Any forward looking statements contained herein speak only as of the date hereof (unless stated otherwise) and, except as may be required by applicable laws or regulations (including the AIM Rules for Companies), the Company disclaims any obligation to update or modify such forward looking statements as a result of new information, future events or for any other reason.
This information is provided by Business Wire
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