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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Lithic Metals (SEE LSE:AFNR) | LSE:LMY | London | Ordinary Share | BMG5504H1051 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.375 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number : 9687K Lithic Metals and Energy Limited 31 December 2008 Lithic Metals and Energy ("Lithic" or "the Company") Equity Buy Back Change of Directors' Holdings Change of Number of Shares in Issue Lithic Metals and Energy (AIM: LMY) today announces that it has purchased 26,000,000 ordinary shares in the Company ("Ordinary Shares"), at a price of 0.5p per share (the "Buy Back Shares"). Pursuant to the Bermudan Companies Act, the Buy Back Shares are deemed to be immediately cancelled at the date of the buy back, so that the total number of shares of the Company now in issue is 126,305,446 Ordinary Shares. The Buy Back Shares represent the shareholding of Zambezi Resources Limited, which was purchased at short notice by certain directors and employees of Lithic and others at a price of 0.5p on 28 October 2008, in response to an offer from Zambezi Resources Limited. The directors of the Company believe that all shareholders should benefit from the value that the transaction represented and have effected the buy back to achieve this goal. The following directors disposed of shares in the buy back: Director Shares Disposed Resultant Percentage of issued share capital Shareholding James Kerr 9,000,000 0 0 Iain Rawlinson 6,500,000 3,076,923 2.4% David Lunt 1,500,000 0 0 Commenting today, Lithic Managing Director Jim Kerr said "As a management group, we took the expedient action of securing the large equity overhang held by Zambezi Resources in our Company in difficult market conditions. This action was deemed necessary at the time to stabilise the company's shareholding and its Zambian investments. Now that close period restrictions imposed on the Company immediately following the initial transaction have ended, the directors have resolved to pass the significant benefit of this transaction on to all shareholders through the buyback arrangement." For further information, please contact: Jim Kerr, Lithic Metals & Energy Tel: +61 8 9322 5804 David Youngman / Katy Mitchell, WH Ireland Limited Tel: +44 (0)161 832 2714 Laurence Read / Beth Harris, Threadneedle Tel: +44 (0)20 7653 9850 Communications This information is provided by RNS The company news service from the London Stock Exchange END POSLFLFXVLBLFBF
1 Year Lithic Metals (SEE LSE:AFNR) Chart |
1 Month Lithic Metals (SEE LSE:AFNR) Chart |
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