This article is from the Australian Property Journal archive
FOLLOWING the update of the ASX's listing rule, Valad has disclosed that its board of directors' holdings in VPG stapled securities have no margin loans.
Valad said there are not margin loans on executive chairman Stephen Day, executive director Peter Hurley, and all other directors’ holdings in VPG stapled securities, both direct and indirect.
In addition, there are no other financing arrangements where security is linked to Valad’s security price.
Day has 10.02 million shares giving in a 0.62% stake in the company and Hurley has 9.93 million shares.
And Kevin McCabe has 47.56 million shares totalling 2.96%.
This announcement has been made in response to ASX Listing Rule 3.1 and ASX companies update no. 02/08 relating to the existence and terms of any finance arrangements that may be in place in relation to a directors’ material security holding.
Valad’s share price closed 4.5 cents or 5.42% higher at 87.5 cents.
Australian Property Journal
