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Paternoster Buys Alecto Loan Stock And Issues Shares (ALLISS)
LONDON (Alliance News) - Natural resources investment company Paternoster Resources PLC on Tuesday said it has acquired convertible loan stock in AIM-listed Alecto Minerals PLC and has issued new shares.
Paternoster said it has acquired USD495,365 worth of convertible loan stock in Alecto, an Africa-focused gold miner, in exchange for the issue of 100.0 million Paternoster shares. It has acquired the loan stock from C3W Ltd, a contract mining company based in Africa.
In addition, Paternoster has issued another 150.0 million share at 0.2 pence per share to raise GBP300,000 to be used to develop its investment portfolio.
Shares in Paternoster were down 9.6% to 0.208 pence on Tuesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
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