FBR Limited (AU:FBR) has released an update.
FBR Limited has reported that Director Mark Joseph Pivac disposed of 25 million shares due to the expiry of long-term loan-funded incentive shares, which were subsequently sold to an overseas institutional investor for 4.1c per share. The sales proceeds went entirely to the company, with no personal gain for Pivac, leaving him with over 283 million ordinary shares and 50 million loan-funded shares. This off-market transaction reflects a notable change in director’s interest without impacting his substantial remaining stake in FBR Limited.
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