LONDON (Alliance News) - Tri-Star Resources PLC on Wednesday said it has settled a GBP5,000 bill after issuing shares to its nominated adviser and broker SP Angel.
The 5.7 million shares were issued to SP Angel at a price of 0.0877 pence each, a 2.6% discount to its closing share price on Tuesday.
The shares issued only represent around 0.06% of the company's enlarged issued share capital, which stands at 8.46 billion shares.
Tri-Star did not state why it has paid its adviser and broker in shares rather than in cash. Tri-Star said it was well funded for 2016 as it begins constructing its flagship project in Oman this year and pledging not to raise any more funds in the immediate future.
Tri-Star shares were trading flat on Wednesday morning at 0.0900 pence.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
