LONDON (Alliance News) – URU Metals Ltd on Friday said it has issued shares to its chairman after he exercised options awarded back in May 2014, following the chief executive who also pushed his stake up on Thursday.
URU Metals shares gained significant ground on Thursday to close up 38% after Chief Executive John Zorbas exercised options over 3.0 million shares at 2.0 pence each. Zorbas pushed his holding up to 31.6 million shares through that exercise and now holds a 4.08% stake in the miner.
On Friday, URU Metals shares continued to rise after revealing that Chairman David Subotic has now also exercised 3.0 million options over shares at the same price of 2.0 pence each to increase his stake in the business to 24.6 million shares, equal to a 3.17% stake.
The options exercised by both directors were both awarded in May 2014.
URU shares were trading up 6.0% on Friday at 3.02 pence.
By Joshua Warner; firstname.lastname@example.org; @JoshAlliance
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