RNS Number : 8732Q

Anglo Asian Mining PLC

30 June 2022

Anglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining

30 June 2022

Anglo Asian Mining plc

Loan to employee

Anglo Asian Mining plc ("Anglo Asian" or the "Company"), the AIM listed gold, copper and silver producer focused in Azerbaijan, announces that it has entered into a loan agreement with Mr Farhang Hedjazi, Vice President of Technical Services and a person discharging managerial responsibility of the Company, pursuant to which the Company has made a loan of US$500,000 to Mr Hedjazi (the "Loan"). The Loan has been guaranteed by Reza Vaziri, President and Chief Executive Officer of the Company.

Under the terms of the Loan, the interest rate is 4 per cent. per annum and is repayable within the next 12 months. Mr Hedjazi has also entered into a pledge agreement with the Company to provide security to Anglo Asian in respect of Mr Hedjazi's holding of 772,665 shares in the Company at a price of GBP0.975 per share, being the closing mid-market price on 29 June 2022.


For further information please contact:

                                                 Tel: +994 502 910 
 Bill Morgan        Anglo Asian Mining plc        400 
                                                 Tel: +994 502 916 
 Stephen Westhead   Anglo Asian Mining plc        894 
                   ---------------------------  --------------------- 
 Ewan Leggat        SP Angel Corporate Finance   Tel: +44 (0) 20 3470 
  Adam Cowl          LLP                          0470 
                     Nominated Adviser and 
                   ---------------------------  --------------------- 
 Charlie Jack       Hudson Sandler               Tel: +44(0) 20 7796 
  Harry Griffiths                                 4133 
                   ---------------------------  --------------------- 


 1.   Details of the person director 
 a)   Name:                                   Farhang Hedjazi 
     --------------------------------------  --------------------------- 
 2.   Reason for the notification 
 a)   Position/status:                        Vice President of 
                                               Technical Services 
     --------------------------------------  --------------------------- 
 b)   Initial notification/Amendment:         Initial notification 
     --------------------------------------  --------------------------- 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
 a)   Name:                                   Anglo Asian Mining 
     --------------------------------------  --------------------------- 
 b)   LEI:                                    213800F9JM669WH34359 
     --------------------------------------  --------------------------- 
 4.   Details of the transaction(s): section to be repeated 
       for (i) each type of instrument; (ii) each type of transaction; 
       (iii) each date; and (iv) each place where transactions 
       have been conducted 
 a)   Description of the financial            Ordinary shares of 
       instrument, type of instrument:         1 pence each 
       Identification code:                    GB00B0C18177 
     --------------------------------------  --------------------------- 
 b)   Nature of the transaction:              Pledge of shares as 
                                               security of Loan 
     --------------------------------------  --------------------------- 
 c)   Price(s) and volume(s):                   Price(s)    Volume(s) 
                                                 GBP0.975    772,665 
     --------------------------------------  --------------------------- 
 d)   Aggregated information: 
       Aggregated volume:                       772,665 
       Price:                                   GBP0.975 
     --------------------------------------  --------------------------- 
 e)   Date of the transaction:                30 June 2022 
     --------------------------------------  --------------------------- 
 f)   Place of the transaction:               Outside of a trading 
     --------------------------------------  --------------------------- 

Notes to editors:

Anglo Asian Mining plc (AIM:AAZ) is a gold, copper and silver producer in Central Asia with a broad portfolio of production and exploration assets in Azerbaijan. The Company produced 64,610 gold equivalent ounces ("GEOs") for the year ended 31 December 2021.

In September 2021, the Company announced a transaction with the Government of Azerbaijan which grants it three additional concessions with a combined area of 882 square kilometres, including the Garadagh porphyry copper deposit, with a Soviet classified resource of over 300,000 tonnes of copper. The transaction is subject to ratification by the parliament of Azerbaijan.

In December 2021, the Company undertook a private placement which acquired 19.8 per cent. of Libero Copper & Gold Corporation ("Libero"). The transaction was completed in January 2022. Libero is listed on the TSX Venture Exchange in Canada and owns, or has the option to acquire, several copper exploration properties in North and South America, including Mocoa in Colombia, one of the world's largest undeveloped copper-molybdenum resources.


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(END) Dow Jones Newswires

June 30, 2022 09:16 ET (13:16 GMT)

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