Karelian Diamond Resources plc’s significant shareholder David John Naylor has reduced his stake in the company.
In February, Mr Naylor held 10,509,468 ordinary shares of €0.00025 each, equivalent to 8.17% of Karelian’s then issued ordinary shares and voting rights.
Following a sale of shares today, he has an interest of 7,656,757 ordinary shares, equivalent to 4.46% of Karelian’s current issued ordinary shares and voting rights.
The company is exploring for diamonds in Finland and metals in Northern Ireland.