LONDON (Alliance News) - Natural resources investing company Paternoster Resources PLC said Tuesday it has sold 6.3 million share in AIM-listed peer Metal Tiger PLC.
Paternoster sold the Metal Tiger shares for 5.42 pence per share, taking the total transaction value to GBP340,000. The sale represents a six-times return on investment for Paternoster. Shares in Metal Tiger were down 2.8% at 5.20 pence Tuesday afternoon.
Paternoster holds 14.2 million Metal Tiger shares following the sale, or around a 3.0% stake.
The sale comes less than a month after Paternoster sold 6.0 million shares in Metal Tiger, raising GBP166,500.
Shares in Paternoster were down 2.4% at 0.20p.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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