Piedmont Lithium directors demonstrate faith in development strategy through placement participation

Piedmont Lithium Ltd (ASX:PLL) directors have demonstrated their faith in the companys lithium development strategy through participating in a placement after receiving shareholder approval.

Non-executive chairman Ian Middlemas acquired more than 2.09 million shares valued at A$188,182 on August 7, increasing the total number of securities held in an indirect interest to 24 million.

Managing director and CEO Keith Phillips acquired 500,000 shares on August 6 valued at A$45,000, increasing the total number of ordinary shares held in a direct interest to 2.6 million along with 8,100 ADSs, representing 810,000 ordinary shares.

A$23.8 million capital raising

The company recently completed a placement of 120 million shares to non-US institutional and sophisticated shareholders for gross proceeds of A$10.8 million.

This private placement was completed following shareholder approval at a general meeting on July 31, 2020.

The placement follows the companys recent US public offering of 2.065 million of its American Depositary Shares (Read More – Source