Lucapa Diamond has concluded the sale of shares following the company's unmarketable share parcel sale, which was first revealed in June this year.
Company chairman Miles Kennedy said that shares were sold for $0.04 per share.
Participating in the share sale were 1,931 stockholders holding over 10.2 million fully paid ordinary shares.
Ross Stanley, a non-executive director of Lucapa, reportedly purchased a little over 6.2 million fully paid ordinary shares for $0.04 per share.
The number of shareholders has decreased to 3,352 individuals as a consequence of the share sale.
“This reduction will in turn reduce the company’s administrative costs, including printing and mailing costs and share registry expenses,” said Kennedy.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
