Director Deal

ECR Minerals plc announces that on 28 November 2011 it received confirmation that Fair Choice Ltd, a company controlled by Michael Silver, Executive Chairman of ECR, has purchased from a third party convertible loan notes of the Company totalling £125,000 in principal amount. The transaction was effective as of 22 November 2011. The convertible loan notes bear interest at 10% per annum and are convertible at any time into new ordinary shares of the Company of 0.1 pence each (“Ordinary Shares”) based on a price of 1.1 pence per Ordinary Share. If not converted, the loan notes are to be redeemed on 17 October 2013.

 

In addition to the convertible loan notes that are the subject of this disclosure, Michael Silver is beneficially interested in 17,716,406 ordinary shares of the Company, representing approximately 2.94 per cent of the Company’s total issued share capital.

 

For further information please contact:

ECR Minerals plc
Michael Silver, Chairman Tel: +44 (0) 20 7929 1010
Patrick Harford, Managing Director
Stephen Clayson, Director
Luca Tenuta, Non-Executive Director
Email:This email address is being protected from spambots. You need JavaScript enabled to view it.
Daniel Stewart & Company plc
Oliver Rigby/Tessa Smith Tel: +44 (0) 20 7776 6550
Old Park Lane Capital plc
Michael Parnes Tel: +44 (0) 20 7493 8188
Blythe Weigh Communications
Ana Ribeiro Tel: +44 (0)20 7138 3204
Barry Kaplan Associates
Larry Kaplan Tel: +1 732 747 0702