YANDAL INVESTMENTS BECOMES MYANMAR METALS’ LARGEST SHAREHOLDER
The Board of Myanmar Metals (“MYL”) has announced that that Mark Creasy’s Yandal Investments (“Yandal”) has converted loans and interest with a combined value of $2,745,000 into Myanmar Metals fully paid ordinary shares.
A total of 82,505,328 shares were issued to Yandal giving them a total shareholding of 87,505,328 shares being approximately 16% of the adjusted capital of 548,499,057 shares.
The Company is now free of all debts and has the most well-regarded mining investor at Number 1 on its register.
Shareholder approval for the conversions was obtained at the General Meeting held on August 18 and the Annual General Meeting held on October 23.