(Correcting the number of additional shares which Labro Investments can purchase in Chaarat Gold ...

Alliance News 17 February, 2017 | 6:28PM
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(Correcting the number of additional shares which Labro Investments can purchase in Chaarat Gold Holdings)

LONDON (Alliance News) - The following is a summary of director dealings reported in London on Friday.


BT Group said Marc Allera, chief executive of its EE division, bought 32,289 shares at a price of 313 pence per share on Thursday.

Last January BT acquired mobile network operator EE in a deal worth GBP12.5 billion.

It marked BT's re-entry to the mobile market in the UK for the first time since it sold its Cellnet business back in 2002. Cellnet was later re-named O2, which is now owned by Telefonica.

Shares in the telecom giant closed up 1.1% at 315.87p on Friday.


Cambria Africa said it raised GBP159,186 in a placing which had originally been planned to raise GBP1.3 million, and has issued shares to majority shareholder Ventures Africa.

Cambria in November had said it was looking to raise the GBP1.3 million through issuing 125.0 million shares at 1.00 pence each, but the open offer closed for applications on Wednesday and valid applications were received from shareholders for 15.9 million shares.

The group also confirmed that it has issued 125.0 million shares after Ventures Africa following a loan conversion notice from the group in respect of GBP1.3 million of Ventures Africa's loans to Cambria.

It is expected both the 15.9 million open offer shares and the 125.0 million loan conversion shares will be admitted to trading next Wednesday, following which there will be 352.6 million shares in issue. Ventures Africa will own 232.0 million shares, or a 65.8% stake, in Cambria after the shares are issued.

Cambria's Chief Executive Samir Shasha is the ultimate beneficial owner of Ventures Africa and the share issue increases his ownership to 65.8% from 50.55%.

Shares in Cambria closed untraded on Friday, having last traded at 0.916p.


Chaarat Gold Holdings said Labro Investments, a company to which Chairman Martin Andersson is connected, acquired 196,943 shares in the company on Thursday.

The shares were acquired at an average price of 19.3283 pence each.

Earlier on Friday the company said Labro bought 525,000 shares on Wednesday which were acquired at an average price of 15.57143 pence each.

Following the purchases, Labro holds 119 million shares, or a 34% stake in the Kyrgyz Republic-focused miner.

Chaarat previously had waived the requirement for Labro to make a mandatory offer for the company as a result of having a more than 20% stake. As part of a shares placing last September, it was agreed that Labro could acquire further shares without triggering such a requirement.

Chaarat said that, as a result of this, Labro can acquire a further 5.6 million shares before the end of March without triggering the requirement to make a mandatory offer.

The stock closed down 0.8% at 20.34p Friday.


Tethyan Resources said Chief Executive Officer Peter Mullens bought 150,000 shares at a price of 6 pence per share on Thursday. Following this transaction, Mullens now holds 8.6 million shares, which represents a 5.91% stake in the miner. The stock closed down 3.7% at 5.66p Friday.


Housebuilder Telford Homes said Land Director James Furlong sold 50,000 shares at a price of 356 pence per share on Thursday. The deal is worth GBP178,000, and Furlong's total shareholding was undisclosed. The stock closed down 0.5% a 351.97p Friday.


Titon Holdings said IT Director Tony Gearey sold 50,000 shares at a price of 139 pence per share Thursday. Following this transaction, Gearey now holds 20,500 shares, which represents 0.19% stake in the firm. Shares in the ventilation products maker closed down 4.6% 135.00p on Friday.


Manchester & London Investment Trust said M&M Investment Co, a vehicle connected to the trust's manager Mark Sheppard, sold 130,000 shares at a price of 305.29 pence per share on Tuesday. Following the sale, Sheppard holds a beneficial interest in 13 million shares, which equals a 60.45% stake in the trust. The stock closed down 0.3% at 305.59p on Friday.


FIH Group said Staunton Holdings, a company connected to Chairman Edmund Rowland, purchased a total of 253,119 shares at a price of 300.00 pence per share on Friday. Following this transaction, Rowland now holds a beneficial interest in 3.1 million shares, which represents 24.68% stake in the firm. The stock closed down 0.8% at 300.15p Friday.


By Arvind Bhunjun;; @ArvindBhunjun

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
BT Group PLC 209.95 GBX 3.35
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