LONDON (Alliance News) - Shares in Bushveld Minerals Ltd fell Friday after said it has issued just under 6.7 million new shares at a price of 2.30 pence each, in lieu of bonuses earned by its directors and advisory services provided to the company.
The mineral development company, which has projects in Africa, saw its shares trading 6.5% lower at 2.15 pence Friday morning, after it said a total of 4.17 million shares were issued in lieu of bonuses to chief Executive Officer Fortune Mojapelo, Chief Fianncial Officer Geoffrey Sproule and Executive Director Anthony Viljoen.
The remaining 2.5 million were issued in lieu of advisory services provided to the company, 1.25 million on which were issued to Non-Executive director Jeremy Friedlander.
The executive directors now hold the following equity interests in Bushveld.
| Number of Shares held in the Company | Percentage held of enlarged share capital of the Company |
Fortune Mojapelo | 9,660,000 | 1.99% |
Anthony Viljoen | 9,826,667 | 2.02% |
Geoffrey Sproule | 1,500,000 | 0.31% |
Jeremy Friedlander | 1,250,000 | 0.26% |
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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Bushveld Minerals (BMN)