LONDON (Alliance News) - Egdon Resources PLC on Monday said 3i Infrastructure PLC has sold off its entire 15% stake in the miner in a deal on Friday last week.
Also on Monday, Egdon said Infinis Energy Services confirmed it has sold 35.9 million Egdon shares to Petrichor Holdings Cooperatief UA, worth just under 14% of the company. Petrichor now has a stake marginally below 30% in Egdon.
Petrichor bought the shares at 10.50 pence each, and shares were 2.4% lower on Monday afternoon at 10.25p each.
Egdon Managing Director Mark Abbott said: "This further investment by Petrichor, an existing long-term and supportive shareholder in the company, and at a significant premium to our current share price, represents a considerable vote of confidence in Egdon's business model and the potential of our assets."
Shares were 2.4% lower on Monday afternoon at 10.25 pence each.