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Investing.com -- Rubis (EPA:RUBF) shares jumped over 8% on Friday after the company disclosed that a group of affiliated shareholders had increased their stake, passing multiple statutory thresholds earlier this week.
In a statement on Friday, Rubis said the Concert Molis group, which includes Compagnie nationale de navigation and members of the Molis family, crossed the 6%, 7%, 8% and 9% ownership thresholds for both ordinary shares and voting rights on April 7 and 8.
Compagnie nationale de navigation, acting independently, also surpassed the same thresholds for ordinary shares and reached the 6%, 7% and 8% marks for voting rights.
As of April 8, Compagnie nationale de navigation held 9.06% of Rubis’ ordinary shares and 8.87% of its voting rights. The broader Concert Molis group held 9.37% and 9.18%, respectively.
The stake increase followed the purchase of 4.13 million Rubis shares, most of which were acquired off-market.
The off-market portion, 3.38 million shares, was tied to a forward financial contract entered into by Compagnie nationale de navigation on April 8.
The deal, arranged with a counterparty bank, includes call and put options expiring between November 2027 and September 2028.