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LONDON - Investor Jim Mellon has reduced his stake in Metals Exploration Plc (LSE:MTL) to 3.27% from 5.01%, according to a regulatory filing released Friday.
The transaction, which crossed the reporting threshold on June 12, was disclosed in a TR-1 form submitted to the London Stock Exchange (LON:LSEG). The notification shows Mellon now holds 95,468,890 voting rights in the mining company.
The filing indicates that Mellon’s holdings are split between direct ownership of 10,927,320 shares, representing 0.37% of voting rights, and indirect ownership through Galloway Limited of 84,541,570 shares, accounting for 2.90% of voting rights.
Galloway Limited, registered in Road Town, Tortola, British Virgin Islands, is controlled by Mellon, who is based in the Isle of Man.
The disclosure did not provide details about the reason for the reduction in stake or the transaction price. No financial instruments were reported as part of the holdings.
The notification was made in accordance with UK regulatory requirements that mandate investors to disclose when their shareholdings cross certain thresholds.
This information is based on a regulatory press release statement filed with the London Stock Exchange.
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