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Director Dealings

10 April 2012

West African Minerals Corporation

(“WAFM” or "Group”)

Director Dealings

The Group was notified on 5 April 2012 that Regent Mercantile Holdings Limited (a company owned by a trust under which Stephen Dattels is a discretionary beneficiary) had completed the acquisition for a consideration of US$500 (equivalent to approximately £0.00044 per underlying shares) of a warrant to subscribe for 716,000 ordinary shares of nil par value (“Ordinary Shares”), exerciseable at a price of 24.4 pence per share at any time on or before 9 January 2017.  Following this transaction and in addition to the warrant, Stephen Dattels* is interested in 26,172,906 Ordinary Shares, representing approximately 10.11 per cent. of the Company's issued ordinary share capital.

The warrant purchased by Regent Mercantile Holdings Limited will be locked in under Rule 7 of the AIM Rules for Companies until 9 January 2013, being the first anniversary of Admission and will be subject to orderly market arrangements during the following twelve months after the initial one year lock-in period.

Note
*Stephen Dattels’ Ordinary Shares are held by Regent Mercantile Holdings Limited, a company owned by a trust under which Stephen Dattels is a discretionary beneficiary.

 

For further information:

West African Minerals Corporation

Denham Eke

+44 (0) 1624 639396

Beaumont Cornish Limited
(Nominated Adviser)

Roland Cornish

Michael Cornish

+44 (0)20 7628 3396

Investec Investment Banking
(Broker)

Neil Elliot

Chris Sim

+44 (0)20 7597 5970

GTH Communications

Toby Hall

Suzanne Johnson Walsh

+44 (0) 20 3103 3902

 

About West African Minerals Corporation

West African Minerals Corporation (AIM: WAFM) is an iron ore mining and exploration group focused on West Africa with interests in iron ore exploration licences in Cameroon and Sierra Leone. Further information on the Group is available at www.westafricanminerals.com.

 

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