Po Valley Energy's (ASX: PVE) largest shareholder and non-executive director Michael Masterman has further demonstrated his confidence in the company with the acquisition of a further 322,025 shares on the market.
In addition, his stake in the company has increased to 27.09% from 26.08% on 17 August 2012.
Masterman had this month bought the following amounts of shares on the market:
- 7 November 2013: 191,483 shares for a total of $22,977.96, or $0.12 each;
- 8 November 2013: 8,517 shares for a total of $1,022.04, or $0.12 each; and
- 11 November 2013: 122,025 shares for $ 17,083.50, or $0.14 each.
These add to the 3,863,281 shares he had acquired since 17 August 2012 to increase his total shareholding to 33,167,327 shares.
The company increased gas production to 224 million standard cubic feet (MMscf) in the September quarter, up 35% from the previous quarter, generating revenue of €1.8 million, up 38.5%.
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