Danakali Limited (ASX:DNK) (?Danakali? or the ?Company?) advise that an off-market transaction of approximately 8.3m shares was completed today. The transaction allowed Sprott Asset Management LP to divest its remaining securities in DNK to allow it to focus on investments that are better aligned to its corporate strategy.
This is a mutually beneficial outcome that facilitates a structured exit for Sprott with a single transaction. The stock was purchased by a consortium of twelve sophisticated investors. The transaction price was $0.23 which represents a 4.6 % discount to the 30 day VWAP and a 4.5% premium to the most recent raising which was completed on the 30th March 2016.