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LONDON - Investor Jim Mellon has reduced his stake in Metals Exploration Plc (LSE:MTL) to 2.99% from 3.27%, according to a regulatory filing released Thursday.
The transaction, which occurred on June 25, was disclosed in a TR-1 notification of major holdings submitted to the London Stock Exchange (LON:LSEG). Following the reduction, Mellon now holds 87,105,710 voting rights in the company.
The filing shows Mellon’s holdings are split between direct ownership of 12,664,140 shares, representing 0.43% of voting rights, and indirect ownership of 74,441,570 shares, representing 2.55% of voting rights. The indirect holdings are through Galloway Limited, a company registered in Road Town, Tortola, British Virgin Islands.
No financial instruments were reported in the disclosure, with all holdings consisting of ordinary shares.
The notification was filed in compliance with UK regulatory requirements that mandate investors to disclose when their holdings cross certain thresholds. The 3% threshold is significant as it typically triggers mandatory disclosure requirements under Financial Conduct Authority rules.
Metals Exploration Plc is listed on the London Stock Exchange. This information was provided in a company press release statement.
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