Last checked at LONDON (Alliance News) - The following is a summary of director dealings reported in London on Monday.
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Condor Gold, the AIM-listed gold exploration company, said it raised GBP2.6 million in a placing led by Canadian mining entrepreneur Ross Beaty.
The fundraising will be used to "fully permit" Mina La India in Nicaragua, pay the remaining USD670,000 for the purchase of the Espinito-Mendoza concession at the La India project, secure the surface rights for the rural land that host and surround the future mine infrastructure and continue work to demonstrate the significant exploration upside of the 2.4 million ounces gold resource at 4.0 grams per tonne gold at the La India project.
In a statement, the AIM-listed company said it is raising the money by placing 6.4 million units, comprising 6.4 million shares and 4.3 million warrants. Each unit is comprised of one share and two thirds of a warrant. Each warrant will give the holder the right to buy one share at 60p per share, a premium to the 40p placing price, for 24 months from the data on which the placing shares begin trading on AIM.
Ross Beaty subscribed for GBP1.5 million worth of units and will have a 7.2% shareholding in the company following the placing on an undiluted basis. The investment follows a site visit and technical due diligence, Condor Gold said. The company said it agreed to a non-dilute clause for Beaty's 7.2% stake.
The company also said it welcomed specialist resource fund managed by an affiliate of alternative asset manager Sprott Inc as a shareholder.
Non-Executive Director Jim Mellon personally subscribed for 500,000 units. On completion of the placing, he will have a direct interest in 698,820 shares, plus an indirect interest in 522,222 shares held through Galloway Ltd. He is the founder and a director of Regent Pacific Group, which owns about 4.0 million shares in Condor Gold. In total, that makes a total of about 5.2 million shares, equal to just shy of 10% of Condor Gold. Mellon will have a direct and indirect interest in 419,444 warrants following the placing.
Mark Child, chairman and chief executive officer of Condor, subscribed for 25,000 units. He will be interested in about 4.0 million shares in the company, equivalent to a 7.6% stake, following the placing. He will have an interest in 16,667 warrants.
Roger Davey, a non-executive director, subscribed for 20,000 units, and will have an interest in 52,500 shares in Condor, representing a 0.10% stake, and will have an interest in 13,333 warrants.
The stock closed down 1.5% at 38.40p Monday.
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Sunrise Resources, the AIM-listed mineral exploration and development company, said it raised GBP120,000 before expenses by selling new shares. In a statement, the company said it sold 45.5 million shares in a placing and 63.6 million shares in a subscription, both at 0.11 pence per share. In addition, Sunrise issued 9.1 million shares at the same price to its joint broker Beaufort Securities to cover fees. The money will be used at the company's exploration projects in Nevada and Australia and for general working capital purposes. Executive Chairman Patrick Cheetham subscribed for GBP50,000 of the 45.5 million subscription shares, meaning he now has 74.4 million shares in the company, equal to an 8.6% stake, including 5.5 million shares held by his wife Karen. The stock closed down 13% at 0.130p Monday.
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Quixant said it has conducted a placing to sell shares on behalf of several directors and "founder shareholders" of the company in order to satisfy market demand and broaden its institutional shareholder base. The company said it has placed 4.3 million existing shares in the company, which represents around 6.5% of the existing issued share capital of the business, at a price of 200.0 pence each. That placing price is 8.3% lower than Quixant's closing share price last Friday. Current Chief Executive Nicholas Jarmany sold over 2.0 million shares, equal to a 3.2% stake in the company, and now holds 14.7 million shares in Quixant, leaving him with a 22.8% stake. Manufacturing Director Chen Tai Lin sold 559,878 shares, equal to a 0.9% stake, and now has over 4.0 million shares in the business, giving him a 6.2% stake. Global Sales Director Gary Mullins offloaded 495,081 shares, or a 0.8% stake in Quixant, leaving him with over 3.5 million shares in the company, or a 5.5% stake. Quixant said the placing also sold shares on behalf of two "founder shareholders." The company said John Mullins sold 593,494 shares, equal to a 0.9% stake, leaving him with around 4.3 million shares in the company, giving him a 6.6% stake. Quixant shares closed up 1.8% to 220.0 pence per share on Monday.
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Meggitt said Rachael Webb, a connected person to Chief Financial Officer Douglas Webb, bought 20,000 shares at GBP4.0055 each. Douglas Webb now holds 98,407 shares. The stock closed up 0.7% at 400.70p Monday.
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IndigoVision Group said incoming Chief Financial Officer Chris Lea bought his first shares in the video security systems provider. Lea bought 5,000 shares at 133.9 pence each on Friday, which is his only holding. Lea joins IndigoVision from insulation systems maker Superglass Holdings PLC. He will take over as IndigoVision's chief financial officer from a date to be agreed with Superglass, but no later than the end of June. He will replace Holly McComb, who is leaving after nine years with IndigoVision, including four as CFO, to pursue other interests. The stock closed up 1.1% at 134.00p Monday.
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Gabelli Value Plus+ Trust said Non-Executive Director Katarzyna Robinski bought 130,000 shares at 89.7925p each and 20,000 shares at 90.375p each on Monday. The stock closed down 0.6% at 89.82p Monday.
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Leaf Clean Energy Co said Non-Executive Director Stephen Coe bought 10,000 shares at a price of 38.4 pence per share on Monday. Additionally, Coe bought 10,000 shares at 38p each on Friday. He now holds 20,000 shares. The stock closed up 3.5% at 38.29p Monday.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
Copyright 2016 Alliance News Limited. All Rights Reserved.
29 Apr 2015 13:36
