White Cliff Minerals Ltd (ASX:WCN) substantial shareholder Denman Income Limited has further increased its stake in the company to 12.15%.
Denman bought about 6.79 million shares on-market today, bringing its total number of follow-on public offer (FPO) shares to 57,168,400.
READ: White Cliff Minerals’ substantial shareholder increases stake to 10.71%
The move follows last week’s purchase of 35.19 million shares worth $175,937 by participating in White Cliff’s rights issue and shortfall placement.