Native Mineral Resources Holdings Receives Second Installment of MAAS Group CEO's 19.25% Stake Investment, Shares Plunge 14%

MT Newswires Live

04-07

Native Mineral Resources Holdings (ASX:NMR) received a second installment of AU$2.26 million from Wes Maas, the Chief Executive and Managing Director of MAAS Group Holdings (ASX: MGH), according to a Monday Australian bourse filing.

Under the terms of Native Mineral's nonrenounceable entitlement offer, Maas subscribed for a total of AU$6.8 million in shares across three installments.

Upon completion of his full investment, Maas will hold a 19.25% stake in the firm.

The investment formed part of the residual shortfall from the entitlement offer, which saw a total of AU$15.9 million raised.

Shares of Native Mineral Resources plunged 14% in recent trading on Monday.

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