Pathfinder Minerals Regulatory News (PFP)

3 Oct 2005 15:34

Pathfinder Properties PLC03 October 2005 FOR IMMEDIATE RELEASE 3 OCTOBER 2005 PATHFINDER PROPERTIES PLC ("Pathfinder Properties", "Pathfinder" or "the Company") DIRECTORS' DEALINGS RELATED PARTY TRANSACTION The Company announces today that Kerrington Limited and Sunnyview Limited haveeach purchased 1,821,352 Ordinary Shares from the Company-held treasury sharesat a price of 6p per share. The transaction is a "Related Party Transaction" under the Rules of the LondonStock Exchange plc governing AIM ("the AIM Rules"). Following the purchasesdetailed above, Kerrington Limited, a company controlled by Mr G. Lee, Directorowns 11,795,780 Ordinary Shares in the Company and Sunnyview Limited a companyowned by Messrs. E. and J. Azouz, Directors owns 11,795,780 Ordinary Shares inthe Company, representing 14.75 per cent and 14.75 per cent respectively of theCompany's issued share capital. In accordance with the AIM Rules, John Davies,as the independent Director having consulted with the Company's NominatedAdviser, Beaumont Cornish Limited, considers that the terms of the transactionare fair and reasonable insofar as the Company's Shareholders are concerned. The £218,562 raised for Pathfinder by the sale of the Company-held TreasuryShares will provide the Company with much-needed working capital. This information is provided by RNS The company news service from the London Stock Exchange