LONDON (Alliance News) - Pathfinder Minerals PLC shares rose on Thursday after the company raised GBP200,000 from a subscription of shares, half of which were taken up by Chief Executive Nick Trew.
The company said it raised the funds through a subscription of over 24.0 million shares in the company at a price of 0.8325 pence each, which is a 10% discount to the closing share price on Wednesday.
Pathfinder shares were up 34% to 1.24 pence per share on Thursday morning.
Half of the shares were taken up by Trew, who now holds a total of 21.5 million shares in the company to give him a 16.79% stake in the company.
The 24.0 million shares issued in total on Thursday represent 18.8% of the company's enlarged issued share capital.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Pathfinder Minerals (PFP)