Petrel Resources: Plunges after not receiving payment
08/01/2020 12:50
** Petrel Resources PET.L down 48.1% at 7 pence
** Co says it has not yet received payment for second
tranche of shares to Tamraz group
** Payment was expected by Jan. 6
** Shares have been issued and allotted, but not delivered
in the form of share certificates to intended shareholders, co
says
** Co also believes around 4 mln shares may have been sold
over recent days in possible breach of lock-in entered into by
Tamraz group over their existing holdings of shares previously
subscribed
** PET seeking explanation of both matters from Tamraz group
(Reporting by Tanishaa Nadkar in Bengaluru)
((Reuters Messaging:
tanishaa.nadkar.thomsonreuters.com@reuters.net))