The directors of Agricola are pleased to announce the issue of 2,000,000 new ordinary shares of 1 pence each at a price of 1p per share, raising £20,000 for the Company.
The shares were acquired by Mr. Bruce Rowan (1,000,000) and Beowulf Mining plc (1,000,000). As a result of his acquisition, Mr. Bruce Rowan is interested in 27,628,571 ordinary shares, representing 17.44% of the enlarged issued share capital. Of these shares, 23,328,571 (14.72%) are beneficially owned by Mr. Bruce Rowan and his wife and 4,300,000 (2.71%) are owned by Starvest PLC, a company controlled by Mr. Rowan. Following its acquisition, Beowulf Mining plc is interested in 8,500,00o ordinary shares, representing 5.36% of the enlarged issued share capital.
The money raised by this issue of shares will be used to acquire gold properties in the Anti Atlas Mountains of North Africa in line with the re-direction of the Company's activities announced at the Company's Annual general Meeting on 30 July 2009.
Following this issue there will be 158,455,500 ordinary shares in issue. The directors' shareholdings remain at 2,513,452 ordinary shares, representing 1.59% of the enlarged issued share capital.
The Directors of the issuer accept full responsibility for this announcement.
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