Dermot Desmond : now has the option on warrants to buy up to 41 million more shares for an aggregate exercise price of some US$25 million. Picture: SNS Group via Getty
Dermot Desmond has pushed his stake in Mountain Province Diamonds, his Canadian mining company, to more than 35 per cent after spending almost CA$3.5 million on shares. Desmond’s stake, which he holds through Vertigol, a Dublin-based investment company, has now gone from 33.3 per cent to 35.4 per cent. The businessman has also extended a fresh round of financial support to the company in the form of a US$50 million loan facility.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: