Southern Hemisphere Mining managing director Trevor Tennant has acquired 3 million shares on-market at a cost of $360,000, increasing his stake to 19.6 million shares, currently worth $2.5 million. Mr Tennant’s holding in the company has gone from 9.65 per cent to 11.38 per cent. The company announced last week Mr Tennant and another major shareholder in the company, Genesis Investment Management, had each acquired part of investor Yang Xifu’s stake. Genesis, which is a UK-based fund manager, now holds an 8.3 per cent of the company. Mr Yang ceased to be a substantial shareholder on January 17. Mr Tennant said Mr Yang had originally invested in the company to increase his exposure to its manganese assets and that, given the focus had now shifted to its Chilean copper-gold assets, “we fully understand his decision to exit his holding”.
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