News: South Boulder Mines’ directors increase stakes through rights issue

South Boulder Mines’ (ASX:STB) directors have increased their shareholdings in the company through participation in the recent $3.35 million rights issue.

Shareholders had subscribed for 54.7% of the shares on offer, raising $1.8 million, with the company to place the remaining $1.5 million worth of shares with the underwriters.

Non-executive chairman Seamus Cornelius subscribed for 466,497 shares worth $116,624.25, increasing his direct and indirect stake up to 6,059,296 shares.
   
Managing director Paul Donaldson acquired 58,334 shares worth $14,583.50, taking his direct stake up to 758,334 shares.

Non-executive director Liam Cornelius subscribed for 1,033,235 worth $258,308.75, giving him a direct and indirect holding of 13,432,041 shares.

In addition, non-executive director Anthony Kiernan subscribed for 46,395 shares worth 11,598.75, increasing his interest to 603,128 shares while John Fitzgerald acquired 8,334 shares ($2,083.50).