LONDON (Alliance News) - Agricultural and forestry company Obtala Ltd said Chairman Miles Pelham purchased 286 preference shares in Argento Ltd shares at a price of USD350 per share on Friday.
These shares are convertible to Obtala ordinary shares with each Argento preference share worth 1,786 Obtala ordinary shares. Argento is Obtala's forestry subsidiary. The Argento 286 preference shares are therefore equivalent to 510,796 shares in Obtala.
It has not been disclosed how many shares Pelham now holds in the company following the USD100,100 deal.
Shares in Obtala were trading down 4.6% at 7.20 pence on Monday.