SCOTTISH businesswoman Ann Gloag has taken a stake in an Alternative Investment Market-listed mining company to become a major shareholder, a move which has helped boost the firm's share price.
Stagecoach co-founder Ms Gloag has taken a 3 per cent stake in Arc Minerals, an exploration and mining firm run by Nick von Schirnding with operations in the Zambian Copperbelt region.
Ms Gloag’s investment in Arc Minerals is worth around £500,000 at the business’s current share price. Arc has a market capitalisation of £20 million, and the Scottish tycoon’s investment helped increase the business’s share price, which closed up nearly 12 per cent at 3.075p.
This move comes after Arc Minerals raised £2.5m last week to help fund its acquisition of a 49 per cent stake in the Zamsort Copper-Cobalt Project in Zambia.
Ms Gloag said: "I was happy to participate in Arc Minerals' recent share placing in support of the board's growth plans including the development of the Zamsort Copper Cobalt project in Zambia.
“I have long believed in the regeneration of Africa through investment and commercial development and have supported this through both my charitable and commercial activities. My investment in Arc Minerals is fully aligned with this philosophy."
Mr von Schirnding, executive chairman of Arc, said: "I welcome Ann Gloag as a major shareholder in Arc. We are at a very exciting juncture and I am confident that as we deliver on our strategy we will generate significant value for all our stakeholders."
Ms Gloag co-founded Perth-based transport company Stagecoach with her brother Sir Brian Souter. Last year Ms Gloag and her brother split the wealth they were managing together to follow different investment strategies. She also has a charitable trust, The Gloag Foundation.
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