European Nickel non-exec Neil Herbert has invested £216,000 in the nickel miner and explorer which recently merged with fellow AIM-quoted explorer Rusina Mining.
Herbert bought 900,000 shares at 24p a share, which gives him 0.39% of the company. The shares were trading at below 24p each prior to the announcement of the purchase.
Herbert joined the board in June - although he is not listed as a director on the European Nickel website (www.enickel.co.uk) - and this is his first purchase of the company's shares.
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Herbert is executive co-chairman of AIM-quoted coal mining investments company Polo Resources.
Earlier this year, European Nickel appointed Socit Gnrale and UniCredit Bank as the initial mandated lead arrangers (IMLAs) for the funding of the alda nickel laterite project in Turkey.
The pair signed a joint mandate letter and provided an indicative term sheet to arrange a $300m term loan facility and $25m over-run facility for the development of alda on a best effort basis. It is expected that a number of other financial institutions will join the IMLAs and form a club of banks to complete the financing.
Top Director Buys
F&C Asset Management (FCAM) Director name: Mr Alain GrisayAmount purchased: 1,000,000 @ 66.22p Value: £662,200
European Nickel (ENK) Director name: Mr Neil Lindsey HerbertAmount purchased: 900,000 @ 24.00p Value: £216,000
Evolve Capital (EVOL) Director name: Mr Oliver John VaughanAmount purchased: 17,288,550 @ 0.50p Value: £86,443
DS Smith (SMDS) Director name: Mr Gareth DavisAmount purchased: 40,000 @ 149.06p Value: £59,624
Craneware (CRW) Director name: Mr Keith NeilsonAmount purchased: 9,780 @ 450.00p Value: £44,010
Evolve Capital (EVOL) Director name: Mr Michael JacksonAmount purchased: 2,250,000 @ 0.50p Value: £11,250
Top Director Sells
F&C Asset Management (FCAM) Director name: Mr Alain GrisayAmount sold: 1,000,000 @ 66.00p Value: £660,000
International Power (IPR) Director name: Mr Bruce LevyAmount sold: 103,961 @ 392.79p Value: £408,348
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