West Perth-based Coalspur has reaped $9.4 million following the exercise of options by a number of investors, including its largest shareholder.
Highland Park Group, through its affiliate Borrowdale Park S.A., exercised 12.72 million of its options in Coalspur at 70c each, a discount to today’s closing share price of 84c.
The exercise increases Highland’s stake in Coalspur to 24.3 per cent.
Coalspur also announced today that a further 602,666 shares will be issued for options that were exercised by other parties through Borrowdale. The options had an exercise price of 70c.
Total proceeds from the exercise was about $9.4 million, Coalspur said.
