SOURCE: Amara Mining plc

April 11, 2014 07:50 ET

Amara Mining PLC: Result of Open Offer and Result of General Meeting

LONDON, UNITED KINGDOM--(Marketwired - Apr 11, 2014) - Amara Mining PLC (AIM: AMA)

Amara Mining plc
("Amara" or the "Company")

RESULT OF OPEN OFFER AND RESULT OF GENERAL MEETING

On 21 March 2014, the Board of Amara, the AIM listed West African focused gold mining company, announced details of the Placing to raise £18.2 million (US$30 million) through the issue of 107,058,823 New Ordinary Shares and the Open Offer to raise up to £4.2 million (US$6.9 million) through the issue of up to 24,468,439 New Ordinary Shares, both at an Issue Price of 17.0 pence per share.

The Open Offer closed for acceptances at 11.00 a.m. on 10 April 2014. The Company is pleased to announce that it has received valid acceptances in respect of 1,705,050 Open Offer Shares from Qualifying Shareholders, including applications under the Excess Application Facility. This represents 7.0 per cent. of the Open Offer Shares offered.

Amara is also pleased to announce that at its General Meeting held earlier today, all of the resolutions as set out in the Circular dated 25 March 2014 were duly passed.

The Company has therefore raised aggregate gross proceeds of approximately £18.5 million (US$30.5 million) through the Placing and Open Offer.

Application will be made to AIM, a market operated by the London Stock Exchange plc, for Admission of the 108,763,873 New Ordinary Shares issued pursuant to the Placing and Open Offer. It is expected that Admission of the New Ordinary Shares to trading on AIM will become effective at 8.00 a.m. (London time) on 17 April 2014.

The New Ordinary Shares, when issued and fully paid, will rank pari passu in all respects with the Existing Ordinary Shares and therefore rank equally for all dividends or other distributions declared, made or paid after the date of issue of the New Ordinary Shares.

The New Ordinary Shares (in uncertificated form) are expected to be credited to CREST accounts on 17 April 2014 and definitive share certificates for the New Ordinary Shares (in certificated form) are expected to be despatched to shareholders by 24 April 2014.

To view the full announcement, please click on the following link

http://www.rns-pdf.londonstockexchange.com/rns/6572E_1-2014-4-11.pdf

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