Metals Exploration plc’s majority investor Nick Candy has increased his shares in the company.
Candy Ventures S.a.r.l, which is majority owned by Mr Candy, and a person closely associated with Metals non-executive director Steven Smith, acquired two million ordinary shares each at an average price of 5.6p.
Following the transaction Mr Candy has an interest in 653m ordinary shares comprising Candy Investments S.a.r.l with 650m, Candy Ventures S.a.r.l, two million, and MTL (Luxembourg) S.a.r.l, one million, in aggregate representing 25.52% of Metals’ total voting rights.
Mr Candy owns 100% in Candy Investments S.a.r.l and MTL (Luxembourg) S.a.r.l, and 90% of Candy Ventures S.a.r.l while Mr Smith holds 10%.
Additionally, Sarah Cather a PCA with non-executive director David Cather acquired 500,000 ordinary shares at an average price of 5.6p per share.
Following the acquisition, Mr Cather and his PCA have an interest in 7.1m ordinary shares, representing 0.28% of Metal’s total voting rights.
Metals has gold exploration and production licences in Nicaragua and the Philippines.