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Sphere places further $1.3m shares with Saudi's Hadeed

The Directors of Sphere Investments Limited have today agreed to place a further 1,125,000 shares to Saudi Iron & Steel Company (Hadeed) at a price of $1.15 per share, raising $1,293,750. This is in addition to the placement of 10,300,000 shares to Hadeed announced on the 8th of March 2006 and follows the recent placement to Qatar Steel Company (QASCO) of 11,425,000 shares at $1.15 per share announced on the 25th of May, 2006.

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