GGG Warrant Exercise and Auzex Option Exercise (9761S)

TIDMGGG

RNS Number : 9761S

GGG Resources PLC

30 November 2011

GGG Resources Plc

(the "Company" or "GGG")

30 November 2011

Placing Warrants Exercised

Options in Auzex Exercised

Placing Warrants Exercised

GGG Resources Plc (AIM: GGG, ASX: GGB) announces that it has received applications to exercise 534,208 Placing Warrants to subscribe for new Ordinary Shares (the "New Shares") at an exercise price of 12.6p per share.

Of the 534,208 Placing Warrants exercised, 479,998 were exercised by GGG directors Michael Short, Paul McGroary, Nigel Clark, Ciceron Angeles and Jeff Malaihollo.

The Placing Warrants, due to expire on 19 January 2012, were issued on a 1-for-3 basis as part of a share placing in July 2010. In total 9,868,421 Placing Warrants were issued at 6.3 pence (recalculated to 4,934,208 Placing Warrants repriced to 12.6 pence after a 2-for-1 share consolidation announced in December 2010). All the GGG directors who owned Placing Warrants, having participated in the July 2010 share placing, have chosen to exercise them in full.

The new shares will be issued and allotted and they will rank pari passu with the existing Ordinary Shares of 2p each in the Company. Trading of the new shares on AIM is expected to commence on 6 December 2011.

The total number of Ordinary Shares in issue following this exercise of warrants will be 166,280,298.

The remaining numbers of 12.6p warrants exercisable up to 19 January 2012 is 4,400,000.

Following the exercise of warrants, the Directors' shareholdings in GGG will be:

 
                       Previous       Shares from      Total Shares    Percentage 
                         Shares     Warrant exercise                   of Company's 
                                                                       Issued Share 
                                                                         Capital 
 Michael Short         1,000,000        333,333         1,333,333         0.80% 
 Paul McGroary*        4,755,313        55,000          4,810,313         2.89% 
 Nigel Clark           2,105,284        33,333          2,138,617         1.29% 
 Jeffrey Malaihollo    1,693,466        33,332          1,726,799         1.04% 
 Ciceron Angeles        269,933         25,000           294,933          0.18% 
 

*The interest of Paul McGroary includes 1,620,313 shares held by Marshall Lake Mining plc of which Paul McGroary is the Chairman and a major shareholder.

The total number of shares held by Directors following the warrant exercise will be 11,587,661 shares representing 6.97% of the share capital.

Auzex Options Exercised

The Company also announces that it has exercised 666,667 Options in Auzex Resources Limited at 20 cents per shares. These Options were due to expire in 13 February 2012 and were exercised early to simplify the Company's holdings in Auzex ahead of the proposed merger.

The Company now owns 10,266,667 shares in Auzex representing approximately 7.9% of its enlarged share capital.

Total Voting Rights

For the purposes of the Financial Services Authority's Disclosure and Transparency Rules, the total number of ordinary shares of 2p each in the capital of the Company in issue as at the date of this notice is 166,280,298 with each share carrying the right to one vote.

There are no shares held in treasury.

Therefore, the total number of voting rights in the Company is 166,280,298.

The above figure may 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 to their interest in, the share capital of the Company under the Disclosure and Transparency Rules.

Contacts:

 
 Dr. Jeffrey Malaihollo           Westhouse Securities Limited (UK Nominated 
  MD, GGG Resources plc (UK)       Adviser) 
  Tel: + 44 1992 531820            Tom Price / Martin Davison 
  Email: www.gggresources.com      Tel: + 44 20 7601 6100 
 Neil Boom                        Collins Stewart Europe Limited (Broker) 
  MD, Gresham PR Ltd (UK).         John Prior / Adam Miller 
  Tel: + 44 7866 805 108           Tel: + 44 20 7523 8350 
                                 ------------------------------------------- 
 David McArthur                   David Brook 
  GGG Resources plc (Australia)    Professional Public Relations (Australia 
  41 Stirling Highway              media) 
  Nedlands, WA 6009                T: [phone]/ [phone] 
  Australia                        E: [e-mail] 
  Tel: [phone] 
                                 ------------------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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