Bannerman up on US fund buy
8th April 2008, 12:45 WST
Shares in Bannerman Resources are up 2.3 per cent on news US private equity firm Resource Capital Funds had acquired a 4.5 per cent stake in the firm following the collapse of Melbourne stockbroker Opes Prime.
Bannerman director Clive Jones welcomed the firm’s support, following its purchase of 6.6 million shares in a single crossing.
The news came as Bannerman said it believed 12.3 million of the 13.96 million shares held by ANZ Nominees (about 9.6 per cent of the company’s total issued capital) had been sold, though it could not name other the buyers of the other stakes.
RCF has previously headed the Talison Minerals consortium, which acquired the tantalum and lithium operations of Sons of Gwalia in August lasat year.
Bannerman was trading at $1.78 at 12.14pm.
http://www.thewest.com.au/default.aspx?MenuID=159&ContentID=66858
bannerman up on us fund buy
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