LONDON (Alliance News) - EMED Mining Thursday said Trafigura Beheer BV, through its subsidiary Urion holdings Ltd, has acquired 202.0 million shares in the company at a value of 9 pence per share.
The minerals development and exploration company, which has assets in Spain and Slovakia, said that Trafigura now holds roughly 18.18% of the company with a total 228.2 million shares.
Trafigura is a Dutch commodity trading company which focuses on base metals and energy.
EMED said that Trafigura has let it know that it acquired the shares for investment purposes only and that changing market conditions may force it to change its ownership.
EMED also said that Trafigura has no role in management of EMED and has not appointed any nominees to the Board of Directors of EMED.
The company also said that one of its shareholders Resource Capital Fund IV LP has disposed of its entire 167.0 million shares in the company, which represented roughly 13.3% of the issued share capital.
EMED shares were up 3.9% to 7.40 pence on Thursday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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