6th Jun 2016 15:20
LONDON (Alliance News) - East Africa-focused gold producer Shanta Gold Ltd on Monday said it has raised around GBP176,000 in its open offer, having received valid acceptances for 2.7 million shares at 6.5 pence per share.
Shares in Shanta Gold were up 1.5% at 5.96p on Monday.
The company said its open offer closed for acceptances earlier on Monday. It said earlier this month that it was looking to raise up to GBP2.5 million in the open offer.
Under the open offer, Non-Executive Chairman Andy Durrant applied for 247,102 shares and 26,080 excess shares, which will take his total shareholding to 2.3 million shares or a 0.39% stake, once the shares have been admitted to AIM. This is expected to happen on Tuesday.
Chief Executive Officer Toby Bradbury applied for 18,750 open offer shares and 231,250 excess shares, which will mean he will hold 650,000 shares in total, equivalent to a 0.11% stake.
Non-Executive Director Robin Fryer applied for 75,000 shares in the open offer, and will hold a 0.12% stake in Shanta Gold, or 675,000 shares.
By Hannah Boland; [email protected]; @Hannaheboland
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