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Acquisition of Coleridge Stake and Issue of Shares

  Download PDF - Monday 2nd April 2012 at 06:00

ALPHA PROSPECTS PLC
("Alpha" or the "Company")

ACQUISITION OF COLERIDGE STAKE AND ISSUE OF SHARES

Further to the announcement of 20 January 2012 and approved at the General Meeting of the Company held, the Company is pleased to announce that it has completed the acquisition of 375 common stock in Coleridge Resources Inc ("Coleridge"), representing 25% of the issued share capital of Coleridge. The Coleridge stock is being issued for a consideration of GBP980,000, fully satisfied by the issue of 49,000,000 ordinary shares of the Company, issued at a price of 2p per share, to Lumbros Limited and Christopher Foster, (the "Vendors") under the Sale and Purchase agreement, between the Vendors and the Company.

As part of the above transaction, Christopher Foster was entitled to be issued with 19,600,000 ordinary shares in the Company, however, Christopher Foster has elected to be issued with 18,600,000 shares and his brother Timothy Foster to be issued with 1,000,000 ordinary shares. Christopher Foster now holds a total of 37,500,000 ordinary shares in the Company representing 20.4% of the issued share capital. Timothy Foster holds 7,562,500 shares representing 4.11% of the Company. Lumbros Limited has been issued with and now holds 24,434,666 ordinary shares in the Company representing 13.2% of the Company. As part of the agreement a further 4,965,334 ordinary shares are to be issued to a third party connected to Lumbros Limited. This party will not hold a disclosable interest in the Company. The Company will update the market once these shares have been issued.

In accordance with the FSA's Disclosure and Transparency Rules, the Board of Alpha Prospects Plc confirms that the Company has 178,794,690 shares of 0.5p in issue carrying voting rights.

This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company under the FSA's Disclosure and Transparency Rules.

The Directors of the issuer accept responsibility for this announcement.

Enquiries:

ALPHA PROSPECTS PLC Christopher Foster +44 203 176 3031
RIVINGTON STREET CORPORATE FINANCE Eran Zucker +44 207 562 3373