DETAIL- CHANGE IN SHAREHOLDING IN MEC RESOURCES LIMITED
Dear Sir/Madam,
On 29th June the Company advised that its recent subscription in MEC Resources Limited’s (“MEC”) Rights Issue has increased the Company’s shareholding in MEC by 4,873,681 ordinary shares to 14,621,043 ordinary shares, representing a 4.4% GBA interest in MEC.
The purchase of these shares was financed by a loan from Grandbridge’s director, Mr David Breeze.
The loan was for an amount of $87,726.25 with an interest rate of 8 % per annum .The loan was unsecured with a repayment date of 14th December 2018.
A substantial holder notice (Form 604) was lodged for MEC Resources reflecting a combined voting power of 11.48% .
Yours sincerely
David Breeze Managing Director
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GBA Price at posting:
2.0¢ Sentiment: None Disclosure: Held
