(MENAFN- ProactiveInvestors - Australia) Cape Lambert Resources Ltd's (ASX:CFE) shares are trading 27% higher intra-day at $0.019, after the remaining circa 66 million shares held by the receiver of African Minerals Limited (AML) were allocated to sophisticated investors.
This follows a divestment of 40 million shares on 23 September 2016 as advised by AML on 6 October 2016 following the lodgement of a notice of change of interest in substantial holder notice.
Tony Sage, chairman, commented:
"This is a significant milestone as it removes the overhang of shares that has restricted the share price over the past 2 years.
"We now have clear air."
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