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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Bisichi Plc | LSE:BISI | London | Ordinary Share | GB0001012045 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 90.00 | 85.00 | 95.00 | 90.00 | 90.00 | 90.00 | 2,000 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Investors, Nec | 95.11M | 17.61M | 1.6496 | 0.55 | 9.61M |
PR Newswire
LONDON, United Kingdom, April 03
4 April 2024
Bisichi PLC
("the Company" or "Bisichi")
Related Party Transaction
Bisichi announces that, as part of its ongoing treasury management, the Company has made an investment of US$2,000,000 (Investment) into the Drakewood Resource Investments Offshore Sub-Fund (Fund), being a fund managed by Drakewood Pioneer Fund Limited (Fund Manager). The Fund invests in equity and debt instruments of entities operating in the metals and mining sectors across various markets and geographic regions and participating in commodity-related resource value chain.
Mr John Wong, a non-executive director of the Company, is engaged by the Fund Manager and has a material interest in the Fund. As such, the Investment is a material related party transaction for the purposes of the Disclosure Guidance and Transparency Rules (DTRs). In accordance with the Listing Rules and DTRs, the Company is required to publish this announcement setting out certain details of the Investment.
The Investment was made on 1 April 2024 and is part of the Company's ongoing strategy to generate value from its cash reserves and its overall strategic objective to generate long term shareholder value. The investment represented 3.14% of the Company's gross assets as at 31 December 2022. The Investment was made on an arms' length basis on terms available to any investor eligible to invest in the Fund and, in accordance with the DTRs and the Company's articles of association, Mr Wong did not take part in the board's consideration of the Investment and did not vote on the decision to make the Investment. The Directors, other than Mr Wong who did not take part in the consideration of the Investment, consider that the Investment is fair and reasonable from the perspective of the Company and shareholders.
For further information, please call:
Garrett Casey
Bisichi PLC
020 7415 5030
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