24th Dec 2020 14:14
(Alliance News) - Global Resources Investment Trust PLC said 30% shareholder Peter Yunghanns will sell its entire stake to Peterhouse Capital Ltd.
Peterhouse Capital is Global Resources' broker.
The investment trust said as part of completion process, Peterhouse intends to place all, or a significant portion of the shares with third party clients.
It noted the sale is conditional upon, and will take effect from the lifting of the suspension of trading in the company's shares. If this has not been achieved by March 1, 2021 the vendor has the right to terminate the sale.
Shares in Global Resources are currently suspended due to the company's failure to publish its financial statements before the deadline.
By Ife Taiwo; [email protected]
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