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LONDON - Adriatic Metals PLC (ASX:ADT, LSE:ADT1, OTCQX:ADMLF) reported that its Chief Financial Officer, Michael Horner, purchased a total of 4,700 ordinary shares of the company. The transaction took place on the London Stock Exchange (LON:LSEG) on Monday, with the shares acquired at prices ranging from £2.01 to £2.02, totaling £9,449.
The purchase by the CFO is considered a notable financial move within the company, reflecting a direct investment by a senior executive in the firm's equity. Such transactions are often seen as a sign of confidence from management in the company's prospects.
Adriatic Metals, which is active in the mining sector, is required to disclose transactions by persons discharging managerial responsibilities to ensure transparency and maintain investor confidence. The notification of this share dealing is an initial notification, meaning it is the first time such a transaction is being reported for Horner.
Laura Tyler, Managing Director & CEO of Adriatic Metals, is listed as the person responsible for arranging and authorizing the release of this announcement. The news comes directly from an official company press release and is intended to inform shareholders and the market of the transaction details.
The disclosure of this information is part of the regulatory requirements that govern the actions of directors and senior managers, ensuring that any personal dealings in the company's shares are made public to prevent insider trading and to promote fair market practices.
The purchase by Horner adds to the public record of executive dealings in Adriatic Metals and provides investors with additional data points to consider when evaluating the company's stock and management's stake in the firm's success.
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