Business
Changes in significant shareholders
Changes in significant shareholders.
About this update from Mineral And Financial Investments Ltd
[{"type":"text","content":"\n \nRNS Number : 9962K Mineral & Financial Invest. Limited 06 August 2013 \n\n \nMINERAL & FINANCIAL INVESTMENTS LIMITED\n \n(\"MAFL\" or the \"Company\")\n \nNew Shareholders Acquire 18% of Equity\nHighlights - MAFL provides summary of recent market activity to shareholders\n· New equity issued (29 July 2013) to Mount Everest SA\no To develop active resources investment and advisory house\n· 18% of enlarged capital sold by Webb Capital to Hawk Investments\n· New shareholders, each holding less than 3%, acquired 18% equity stake from Hawk Investments\n· New investors supportive of MAFL strategy to secure significant stakes in high value resource assets and actively manage investments\nMineral and Financial Investments Limited today announces an update to shareholders regarding on market trading, following its subscription agreement with Mount Everest Finance SA (\"Mount Everest\") to develop a specialist resources active investment and advisory company.\nAs part of a process to develop MAFL, 2,287,000 shares in the Company were allotted to Mount Everest Finance SA (\"Mount Everest\") at asubscription price of 6p per share, a premium of 9%. The intent of both MAFL and Mount Everest is to build a well-capitalised investment house, taking advantage of severe lack of available capital for resources companies, and act as a long term strategic partner to investee companies. Jacques Vaillancourt of Everest has been appointed to the Board as an Executive Director.\nIn addition to this agreement with a strategic partner, significant on market trading has recently occurred in MAFL shares and the Company feels it is appropriate to update shareholders on this.\nWebb Capital sold shares equating to an 18% block of the Company's enlarged equity to Hawk Investments. Subsequent to the announced strategy and agreement with Mount Everest, the totality of that block has been sold to a number of high net worth European investors. These new investors individually hold less than 3% of the Company each and support the development of the MAFL investment strategy. \nCommenting today Alastair Ford, CIO of MAFL said: \"The objective of the new MAFL Board over the past year has been to bring focus to the Company and move it forward to reali...