MACA finance director Ross Williams, operations director Geoff Baker and managing director Chris Tuckwell are among six founding shareholders who have agreed to sell in aggregate 20 million shares to a number of predominantly Australian institutional investors. The shares were sold at a discounted price of $2 each, while the current market price of MACA shares is around $2.34.
Mr Williams has disposed of 4.5 million shares on-market to raise $9 million, leaving him with 4.5 million shares currently worth $10.5 million. Mr Baker has sold 3 million shares for $6 million, and he now has 18 million shares in the company worth $42 million. Mr Tuckwell has disposed of 300,000 shares to realise $600,000, and he now has a stake of 700,000 shares in the mining services company currently worth $1.6 million.
