Shree Minerals (ASX:SHH) chairman Sanjay Loyalka and non-executive director Rajesh Bothra have acquired shares in the company through its recent rights issued.
Loyalka acquired a further 559,078 shares priced at $0.08 each, bringing his holding up to 26,474,078 shares.
Bothra acquired 12,500,000 as part underwriting of the rights issue, increasing his shareholding through RB Investments Pty Ltd to 30,437,500, or 21.43% in Shree.
Shree has raised $1.6 million through its fully underwritten rights issue for general working capital and meeting ongoing trade creditors including production costs, payments of trade & other payables, corporate administration and operating costs.It had placed its Nelson Bay River operations in Tasmania on care and maintenance due to fall in iron ore prices.
The company had $2.18 million in cash as of 30 June 2014.
