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MetalsTech Ltd ( (AU:MTC) ) has provided an update.
MetalsTech Limited has announced the sale of 23,041,940 fully paid ordinary shares by entities controlled by executive director Mr. Gino D’ Anna and his spouse, Mrs. Rachel D’ Anna, through three separate off-market transactions. The total consideration for these transactions amounts to A$11,167,631, equating to approximately A$0.485 per share. This move follows the expiration of a previous share sale agreement with Minerva Investment Company Limited. The transactions have been approved by non-conflicted board members, ensuring compliance with the company’s Securities Trading Policy. The sales involve private equity family office funds based in Hong Kong, namely Shuihua Investment Limited Partnership Fund and Longwell Capital Pty Limited, which were not existing shareholders of the company. This strategic move is expected to influence the company’s shareholder structure and potentially impact its market positioning.
More about MetalsTech Ltd
MetalsTech Limited is a company involved in the mining industry, primarily focusing on the advancement of the Sturec Gold Mine. It operates within the gold mining sector and is listed on the Australian Securities Exchange under the ticker ASX: MTC.
Average Trading Volume: 184,991
Technical Sentiment Signal: Buy
Current Market Cap: A$39.97M
For an in-depth examination of MTC stock, go to TipRanks’ Overview page.