6th Jan 2016 17:29
LONDON (Alliance News) - The following is a summary of director dealings reported in London on Wednesday.
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Vast Resources said it has issued additional shares to its directors and senior executives following a subscription agreement announced on Monday.
The company entered into a subscription agreement with Crede CG III Ltd under which it will raise GBP5.0 million through the issue of four tranches of 156.3 million shares at 0.8 pence per share to Crede. Each of the issues will occur at 90-day intervals, with each tranche to raise GBP1.25 million apiece.
Crede Capital, which runs the fund, is a US-based family office which invests in emerging European companies.
The subscription on the second, third and fourth tranches to be issued to Crede is dependent on an investment being made by Vast's directors and senior executives, which was confirmed on Wednesday.
A further 62.5 million new shares have been issued at the same price to directors and senior management to raise the GBP500,000 needed to satisfy the second, third and fourth tranches to be issued to Crede. In addition, Vast said it has also issued warrants over another 62.5 million shares to those directors and management which are exercisable at 1.04 pence per share before early 2021.
Importantly, shareholders still have to approve the deals at a general meeting which is expected to be held shortly.
The additional 62.5 million shares issued that was announced Wednesday were issued directly to directors and also to some companies associated with directors.
Sapi River Investments, which is associated with Vast Chairman William Battershall, snapped up 20.8 million of the additional subscription shares and now holds a 11.59% stake in the company.
WES Capital, associated with Chief Financial Officer Pierre Joubert, purchased 20.8 million shares to up its stake to 1.11%.
Fermain, associated with Chief Executive Roy Pitchford, subscribed to 5.2 million shares and now holds a stake just over 1% in the company.
Finance Director and Company Secretary Roy Tucker increased his stake after subscribing to 5.2 million shares and now holds a 1.68% stake in Vast, whilst Non-Executive Graham Briggs bought his first stake in the company through 4.2 million shares, giving him a 0.22% stake. "Other senior employees" subscribed to the remaining 6.3 million shares.
Following the issue of those additional 62.5 million shares, Vast has a share capital of 1.87 billion shares. The company's share capital has increased by almost 60% since before the original subscription agreement was announced Monday, when it had around 1.18 billion shares in issue.
Vast shares closed down 9.8% at 0.925p Wednesday.
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Assura said Finance Director Jonathan Murphy sold 1.1 million shares at 55.00p each on Wednesday. The deal is worth about GBP585,395 before expenses. Following this transaction, Murphy holds 876,250 shares representing 0.05% of the issued share capital. Assura was promoted to the FTSE 250 in December. Shares in the healthcare property investor and developer closed flat at 55.00p Wednesday.
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Akers Biosciences said Leslie Akers, the wife of Co-Founder and Executive Chairman Raymond Akers, bought 2,100 shares at USD1.34 each on Wednesday. Following this transaction, Akers' shareholding increased to 72,100 shares comprising of 70,000 shares held in the Akers Family Trust and 2,100 bought by his wife. This represents 1.33% of the total voting rights of the company. Shares in the healthcare screening and testing products developer closed up 22% at 114.00p Wednesday.
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United Cacao SEZC said East Pacific Capital Private, a company owned by Chairman Dennis Melka, acquired 5,000 shares at 143p each on Tuesday. Following this transaction, Melka holds a beneficial interest in 5.2 million shares, which equals a 27.3% stake. Shares in the plantation company closed flat at 130.00p Wednesday.
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FTSE 250 infrastructure investor and manager John Laing Group said Non-Executive Director Jeremy Beeton bought 4,000 shares at 206.38p per share on Tuesday. Following this transaction, Beeton holds 14,256 shares. The stock closed down 0.3% at 207.30p Wednesday.
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Victoria, which designs and distributes flooring, said Finance Director Michael Scott bought 4,250 shares at 1,160p each on Wednesday. The purchase is his only holding. The stock closed down 1.2% at 1,164.00p Wednesday.
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Agricultural bioscience company Plant Impact said Chief Executive John Brubaker bought 14,000 shares at a price of 56.00p per share on Tuesday. Following this transaction, Brubaker holds 660,000 shares, equating to a 0.81% stake. The stock closed up 1.4% at 55.75p Wednesday.
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By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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