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URA Holdings PLC ( (GB:GEMR) ) has shared an announcement.
Gem Resources Plc has announced the issuance of 5,999,998 new ordinary shares to its directors in lieu of cash settlement for accrued fees, at a 31% premium to the market price. This move, involving directors Bernard Oliver, Edward Nealon, and Peter Redmond, is considered a related party transaction and has been deemed fair and reasonable by independent directors. The issuance will increase the total number of shares to 308,658,088, impacting the company’s equity structure and potentially its market positioning.
More about URA Holdings PLC
Gem Resources Plc (GEMR) is an emerging emerald producer, focusing on the Gravelotte Emerald Mine in South Africa, historically one of the world’s largest emerald mines. The company is committed to sustainable and efficient mining practices and has expanded its operations by acquiring the Curlew Emerald Mine in Australia.
YTD Price Performance: -17.17%
Average Trading Volume: 884,831
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £1.14M
See more insights into GEMR stock on TipRanks’ Stock Analysis page.