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London Mining Plc (OSL:LOND) Altima Global Special Opportunities Master Fund Ltd has exercised options to purchase 675,000 shares from Benbrack Charkit Ltd (of which Christopher Brown, a founder, director and primary insider of London Mining has a beneficial interest in) and 675,000 shares from GB Barnes & Associates (of which Gregory Barnes, a founder and primary insider of London Mining has a beneficial interest in), at a price of GBP 1.50 per share.
After this transaction, Benbrack Charkit Ltd owns 12,375,000 shares in London Mining and GB Barnes & Associates owns 5,300,000 shares in London Mining.
Also, London Mining has issued 3,837,500 new shares to Altima Global Special Situations Master Fund Ltd related to the conversion of 3,837,500 warrants at 200 pence per share and 1,162,500 shares to Altima Global Special Opportunities Master Fund Ltd. related to the conversion of 1,162,500 warrants at 125 pence per share for total proceeds of GBP 9,128,125.
Following this issue, the Company has a total of 106,033,795 shares and 4,000,000 warrants outstanding. In addition, there are 5,380,000 options outstanding.
For further information, please contact: London Mining Plc Graeme Hossie, Corporate Development & Deputy +44 (0)20 7201 5000 Managing Director
Notes to the Editors: London Mining is incorporated and registered in the UK, and is developing mines to supply the global steel industry. Following the sale of its Brazilian operations, the Company will have operational mining, exploration and development projects located in Sierra Leone, Saudi Arabia, Greenland, Mexico and South Africa, and total iron ore resources of 1.3 billion tonnes containing an estimated 459Mt of iron. In 2007, London Mining raised over US$185m to advance iron ore production from its projects, and listed on the Oslo Axess, a marketplace regulated by the Oslo Stock Exchange on 9 October 2007. London Mining is trading under the Reuters symbol LOND.OL and Bloomberg symbol LOND:NO.
Please also visit our website www.londonmining.co.uk for more information about London Mining and its operations.
