The board of directors of GMA note
yesterday's movement in the
Company's share price and
confirms it knows of no reason for
this movement.
Further to the announcements issued
on 6 and 9 January 2012, little
further progress has been made
regarding the disposal of Enterprise
d'Exploitation des Mines d'Or
and completion is not expected in the
near future.
The Company currently has 618,002,894
Ordinary Shares in issue and there
is, in aggregate, approximately £5.5
million of unsecured convertible loan
stock which, together with accrued
interest, is repayable in full on 31
December 2012, if not converted
before that date. Conversion is at
the option of the holder at any time
prior to 31 December 2012. The
conversion price on the loan notes is
between 2.25p and 5p.
The Company is seeking to acquire
another company or business in
exchange for the issue of Ordinary
Shares in a single transaction (a
"reverse takeover") as per
the investing policy described in the
announcement dated 21 December
2011.
A further announcement will be made
in due course.
Enquiries:
GMA Resources Plc
|
Ken Crichton
|
+2 (0) 10766 6118
|
Merchant Securities Limited
(Nomad)
|
David Worlidge
|
+44 (0) 20 7628 2200
|