Last checked at 15 Mar 2012 14:10
Weatherly International Plc
Director Dealing and Holding in Company
Weatherly International Plc ("Weatherly" or the "Company") was informed on 15 March 2012 that, on the previous day, Oro Verde Limited ("OVL"), a company of which Dr. Wolf Martinick, Non-Executive Director of Weatherly, is a director and substantial shareholder, sold 18,281,200 ordinary shares of 0.5p each in the capital of the Company ("Ordinary Shares") at a price of 6p per Ordinary Share. OVL's shares were placed with institutional investors and, following this sale, OVL no longer has an interest in Weatherly.
The sale by OVL of its investment in Weatherly is consistent with its recently announced strategy to sell non-core assets and focus on its exploration activities in Chile. OVL's investment in Weatherly was obtained following vending of the Luanshya tenements in Zambia into the Company in 2005.
Following this sale, Dr. Wolf Martinick's direct interest in Weatherly is unchanged at 19,263,200 Ordinary Shares representing 3.59% of the Company's issued share capital.
For further information please contact:
Weatherly International Plc +44 (0) 20 7917 2989
Rod Webster, Chief Executive Officer
Dean Friday, Investor Relations
Collins Stewart Europe Limited +44 (0) 20 7523 8350
John Prior, Sebastian Jones