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LONDON (SHARECAST) - Non-executive ...
LONDON (SHARECAST) - Non-executive director Dimitrios Koutras has made a £23m profit on European Goldfields shares he bought in November 2008.
Koutras sold 6,684,641 shares at 435p a share to institutional investors, thereby widening the shareholder base of the gold miner and explorer.
The sale raised £29.08m.
That takes his
stake in European Goldfields back to 5.7%, which he
describes as his
has no intention of selling any more shares.
bought exactly the same number of shares during November 2008 at a total cost of just over £6m.
points out that the purchase was made at a time when the management needed to indicate its support for the company.
That means that Koutras
made a profit of £23m in less than 18 months.
European Goldfields' largest shareholder Aktor Constructions International, which has a 19.4% stake, says that it has no plans to sell shares.
Koutras joined the European Goldfields board in November 2004 and was chairman until last October.
He is also president of Aktor.
Director name: Mr Dimitrios Koutras
Dimitrios Koutras joined the Board in November 2004 and acted as Non-Executive Chairman until October 2009.
Since 1995, Mr. Koutras has been president & General Manager of Aktor S.A., the largest construction company in Greece.
Mr. Koutras has also been acting as President of Hellas Gold S.A. since December 2003.
Mr. Koutras is a Mining Engineer and a member of the Greek Technical Chamber and of the Greek Mineralurgist Association.
European Goldfields Acquires 30% Interest in Hellas Gold SA
TORONTO--(BUSINESS WIRE)--Feb. 9, 2004--European Goldfields Ltd. (TSX VENTURE:EGU - News; the "Company") announces that its wholly-owned subsidiary, European Goldfields (Greece) B.V. ("EG Greece"), has entered into a shareholders agreement (the "Shareholders Agreement") with Dimitris Koutras ("DK"), Greek Mines SA ("GM") and Global Mineral Resources S.a.r.l. ("GMR") to acquire an interest in Hellas Gold SA ("Hellas Gold").
...Dimitris Koutras is the President and General Director-Executive member of Aktor SA.
It is proposed that the Chairman of Aktor, Mr Dimitris Koutras, is the non-executive Chairman of European Goldfields.
European Goldfields | Directors