13th Jun 2016 12:20
LONDON (Alliance News) - Centamin PLC, the FTSE 250 gold miner whose flagship mine is the Sukari deposit in Egypt, on Monday said its chairman raised GBP5.55 million by selling shares in the company over a period of three days last week.
Chairman Josef El-Raghy sold 5.0 million shares between Wednesday and Friday last week at an average price of 111 pence per share, Centamin said in a statement. Shares in Centamin were up 1.7% at 111.90 pence on Monday afternoon in London, benefiting from a firm spot gold price.
The notification relates to Nordana Pty Ltd, a fund connected to El-Raghy, Centamin said. The chairman and people close to him now have a beneficial interest in 53.8 million Centamin shares, equivalent to a 4.67% stake in the company.
The sales come after Centamin said on June 1 that El-Raghy disposed of 12.6 million shares in the final week of May.
He sold those shares at an average price of 98 pence between May 26 and May 31, according to Centamin, which had reduced his interest to a 5.1% stake.
By Samuel Agini; [email protected]; @samuelagini
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