08 July 2022
Alba Mineral Resources plc
("Alba" or the "Company")
Investee Company Update: GreenRoc Mining plc
Alba Mineral Resources plc (AIM: ALBA) is pleased to note the announcement today by its portfolio company, GreenRoc Mining plc ("GreenRoc") (AIM: GROC). Alba holds a 54% majority interest in GreenRoc. The announcement is set out below without material changes.
GreenRoc Mining plc
("GreenRoc" or the "Company")
Grant of Share Options
GreenRoc Mining Plc (AIM: GROC), a company focused on the development of critical mineral projects in Greenland, announces the grant on 8 July 2022 of 1,000,000 share options over ordinary shares in the Company ("Options") to Stefan Bernstein, Chief Executive Officer of the Company, as follows:
Option Award
| Director / Senior Management | New Options | Exercise price | Vesting Date | Total Options Granted |
| Mr Stefan Bernstein | 333,333 | 10 pence | 1 July 2023 | |
| | 333,333 | 10 pence | 1 July 2024 | |
| | 333,334 | 10 pence | 1 July 2025 | |
| Total | 1,000,000 |
|
| 1,000,000 |
The Options are awarded subject to the terms, conditions and rules set out in the Greenroc Mining Plc Long Term Incentive Plan (the "LTIP Rules").
Subject as aforesaid, the Options shall be exercisable at the exercise price and from the vesting dates set out above, unless an earlier event occurs to cause them to become exercisable or to lapse under the LTIP Rules.
The Options shall lapse on 28 September 2026, to the extent they are not exercised before then and provided no event occurs to cause them to lapse earlier under the LTIP Rules.
The Options granted represent approximately 0.9% of the current issued share capital of the Company. On a fully diluted basis the Options represent approximately 0.9% of the enlarged issued share capital of the Company (assuming the Options are exercised in full and no additional ordinary shares are issued save for those in connection with such exercise).
**ENDS**
For further information, please visit www.albamineralresources.com or contact:
Alba Mineral Resources plc
George Frangeskides, Executive Chairman +44 20 3950 0725
SPARK Advisory Partners Limited (Nomad)
Andrew Emmott +44 20 3368 3555
ETX Capital (Broker)
Thomas Smith +44 20 7392 1494
St Brides Partners (Financial PR)
Isabel de Salis / Catherine Leftley alba@stbridespartners.co.uk
Alba's Projects and Investments
| Mining Projects Operated by Alba | Location | Ownership |
| Clogau (gold) | Wales | 90% |
| Dolgellau Gold Exploration (gold) | Wales | 90-100% |
| Gwynfynydd (gold) | Wales | 100% |
| Limerick (zinc-lead) | Ireland | 100% |
| Investments Held by Alba | Location | Ownership |
| GreenRoc Mining Plc (mining) | Greenland | 54% |
| Horse Hill (oil) | England | 11.765% |
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