Eduardo Hochschild, the Executive Chairman of Hochschild Mining, whose great uncle founded the Peruvian mining and cement-focused group, this week grew his already sizeable stake with the purchase of a further 16.9m shares.
Paying 155p a share, Hochschild spend a total of £26.2m, although this would have made but a small dent in his estimated $2.1bn fortune.
The transaction has taken the director's stake in the group to just over 199.3m shares.
Hochschild Mining also announced a much more modest purchase by Nigel Moore, a Non-Executive Director, who acquired 12,149 shares at 153.50p for a total of £18,649. His holding in the company now stands at 26,434.
The purchases were part of a placing made in relation the agreement last week by the precious metals miner, in which it agreed to acquire the remaining share of two gold and silver mines in Peru from its partner there.
The FTSE 250 group proposed to raise between $48m and $96m from institutions and revealed it had secured a $340m senior bridge financing facility to complete the acquisition from International Mineral Corporation (IMZ), in which Hochschild is a 3.2% shareholder.
As part of this Eduardo Hochschild provided an irrevocable undertaking to vote all of his current shareholding (then 54% of the currently issued share capital), as well as all shares that he indirectly subscribed to as part of the placing, in favour of the acquisition at an upcoming extraordinary general meeting.
Source:LiveCharts
Paying 155p a share, Hochschild spend a total of £26.2m, although this would have made but a small dent in his estimated $2.1bn fortune.
The transaction has taken the director's stake in the group to just over 199.3m shares.
Hochschild Mining also announced a much more modest purchase by Nigel Moore, a Non-Executive Director, who acquired 12,149 shares at 153.50p for a total of £18,649. His holding in the company now stands at 26,434.
The purchases were part of a placing made in relation the agreement last week by the precious metals miner, in which it agreed to acquire the remaining share of two gold and silver mines in Peru from its partner there.
The FTSE 250 group proposed to raise between $48m and $96m from institutions and revealed it had secured a $340m senior bridge financing facility to complete the acquisition from International Mineral Corporation (IMZ), in which Hochschild is a 3.2% shareholder.
As part of this Eduardo Hochschild provided an irrevocable undertaking to vote all of his current shareholding (then 54% of the currently issued share capital), as well as all shares that he indirectly subscribed to as part of the placing, in favour of the acquisition at an upcoming extraordinary general meeting.
Source:LiveCharts
