12th Feb 2014 11:40
LONDON (Alliance News) - Maple Energy PLC Wednesday said Senior Vice President Tony Hines sold 2.3 million shares and used the proceeds from the transaction to fulfil repayment obligations outstanding under an existing sale and repurchase agreement that became due Monday.
The shares were sold at USD0.33 per share. At the same time, Hines assumed the obligation to repurchase all the shares at USD0.35.
Following the sale transaction, and before the repurchase, Hines beneficially owns 6.5 million shares, or 3.93% of the outstanding share capital.
Shares in the energy company were trading down 2.1% at 23.50 pence Wednesday morning.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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