The executive director, corporate & finance, has this week purchased a further 250,000 shares in an on-market transaction valued at $42,750.
This takes his holding in the company through an indirect interest to more than 10.756 million shares.
Placement well supported
Global Energy Ventures has this week raised $3 million in a placement which was well supported by institutional and sophisticated investors, including several new investors.
There will be 20 million new fully paid ordinary shares issued in the equity placement at 15 cents per share and this will be completed within the company’s ASX placement capacity.
Proceeds will provide the company with ongoing funding for the development of a portfolio of global CNG opportunities and working capital.
Executive chairman Maurice Brand said: “Existing cash and the successful capital raising provides GEV with funding for up to 18 months of planned expenditure.”