LONDON (Alliance News) - The following is a summary of director dealings reported in London on Wednesday.
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Ortac Resources on Wednesday said it raised GBP400,000 after conducting a large discounted placing which a group of directors participated in.
The company placed 800.0 million new shares at 0.05p per share to raise proceeds to allow the company to further develop its existing portfolio of mineral projects and for working capital purposes.
Through that placing, Executive Chairman Anthony Balme purchased 38.9 million shares to up its total holding to 282.6 million shares, representing a 6.5% stake in the miner. Chief Executive Vassilios Carellas bought 5.8 million shares to hold a total of 54.0 million shares or a 1.25% stake.
Non-Executive David Heber purchased 5.4 million shares and now holds 24.0 million shares, or a 0.55% stake. Non-Executive David Paxton was the only member not to purchase any shares and his total holding remains at 34.0 million shares, representing a 0.79% stake.
The company had 3.53 billion shares already in issue prior to the placing, and now has a total of 4.33 billion shares in issue.
The stock closed down 21% at 0.0550p, one of the worst performers on the AIM-All Share Index.
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Ilika said Chairman Mike Inglis bought 65,000 shares at a price of 75.50p each on Wednesday. The purchase is his only holding after being appointed in September. Inglis, 55, is a non-executive director of Pace and an independent director of Advanced Micro Devices Inc. He used to be chief commercial officer at ARM Holdings. Shares in the solid-state batteries company closed up 6.9% at 79.62p Wednesday.
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Testing and inspection services company Exova Group said recently appointed Chief Financial Officer Philip Marshall bought 40,000 shares at a price of GBP1.637 per share Tuesday. Following this transaction, Marshall holds 75,000 shares, which represents a 0.030% stake. He previously bought 35,000 shares on Friday. Marshall was named CFO at the end of September, replacing Anne Thorburn. He joined the company from energy analytics firm Wood Mackenzie. The stock closed down 0.3% at 159.56p Wednesday.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
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24 Jul 2014 12:22