05/02/2009 - 11:06

Investors spend $1m for Red Fork shares

05/02/2009 - 11:06

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Two major shareholders in Subiaco-based Red Fork Energy have spent a combined $1 million boosting their interests in the oil and gas explorer.

Two major shareholders in Subiaco-based Red Fork Energy have spent a combined $1 million boosting their interests in the oil and gas explorer.

Luigi Ghirardello bought 5.2 million Red Fork shares at around 15 cents each for $780,000.

The purchase increased his interest in Red Fork from 9.83 per cent to 15.51 per cent.

Meantime, Robert Healy spent $238,790.41 buying 1.58 million shares, with each share priced at around 15 cents.

Mr Healy's interest rose from 9.75 per cent to 11.48 per cent.

Shares in Red Fork, which is focused on the United States, were down 3.5c to 18c at 13:07 AEDT.

Its understood that Mr Healy and Mr Ghirardello have been given the option to buy shares from fellow major shareholder Marble Bar Asset Management, which is believed to be selling down all of their Australian holdings.

Marble Bar is a UK-based fund manager.

 

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