(Alliance News) - Mining company Pembridge Resources PLC on Wednesday said Chief Executive & Board Chair Gati Al-Jebouri purchased a total of 318,637 shares in two transactions on Monday and Tuesday.
The stock closed 4.0% higher at 13.00 pence each on Wednesday in London.
On Monday, Al-Jebouri bought 198,132 shares and on Tuesday, he purchased an additional 120,505 shares. Following the transactions, he holds around 13.1 million Pembridge shares, representing 19% of the company's issued share capital of 68.7 million shares.
The price for the shares bought by Al-Jebouri was not disclosed.
"This addition to my shareholding reflects not only my confidence in the long-term prospects of Pembridge Resources and the Minto mine in Canada, but also my belief of a continuing disconnect between current share price and the inherent value already within Pembridge," Al-Jebouri said.
"Given the number of positive developments that have materialised since the company's shares were readmitted to trading last year, I have taken the opportunity that has arisen to purchase shares below the issue price of our latest capital raise," he added.
In December, Pembridge Resources shares were re-admitted to trading on the London Stock Exchange after a 22-month absence since February 2018.
By Ife Taiwo; ifetaiwo@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
