31st Oct 2013 16:38
LONDON (Alliance News) - Bacit Limited, a closed-ended investment company, Thursday said its chairman and a number of other non-executives acquired C shares in the company on Monday.
Non-Executive Chairman Jeremy Tigue acquired 100,000 C shares, as did non-executive director Martin Thomas.
Non-executive directors Peter Hames and Colin Maltby each acquired 20,000 C shares, while another non-executive director, Thomas Henderson, acquired 2 million C shares.
All of the shares were bought at 100 pence per share.
Earlier in October, Bacit issued a total of 200 million C shares after an oversubscribed offer. The C shares will convert into new ordinary shares between January 31 and March 31, 2014 at a ratio to be determined based on the net asset value of investment company at the time.
The C shares were quoted at 102.25 pence on Thursday. The company's ordinary shares were quoted at 118.75 pence, up 0.1%.
By Samuel Agini; [email protected]; @samuelagini
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