(MENAFN- ProactiveInvestors)Shares in Independent Resources (LON:IRG) shifted higher as directors and senior managers took shares in lieu of monies owed. In all £174480 worth of shares at a penny a pop were issued in lieu of payments due. The subscription price represents a 33.33% premium to the closing price of Independent Resources' shares on Tuesday the day before news of the subscription was released. The shares were among the best performers on Wednesday rising 6.25% or 0.05p to 0.85p. The decision to take shares instead of readies was flagged back in May but AIM rules prevented the individuals from subscribing for the new shares until after the company's full-year results had been published. The company has also issued warrants over 8724019 ordinary shares to directors and senior management of the company on the basis of 1 warrant for each 2 new ordinary shares subscribed with such warrants having an exercise price of 1.50p and an expiry date of 28 May 2017.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.