FBR Limited (AU:FBR) has released an update.
FBR Limited has announced that director Michael John Pivac has disposed of 25 million shares due to the expiry of long-term loan-funded incentive shares, which were subsequently sold off-market to an overseas institutional investor at 4.1 cents each. The total proceeds from this sale will benefit the company directly, with no personal gain for Pivac, who retains over 77 million ordinary shares and 50 million loan-funded shares.
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