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Ram Resources: new substantial shareholder takes 6.65% stake in the company

Ram Resources (ASX: RMR) has added a new substantial shareholder to its register after Michael Shmazlan acquired 63.46 million shares through associated companies, making his initial shareholding in Ram 6.65%. 

Shmazlan acquired the shares through his companies Exchange Minerals FZE and Exchange Minerals Limited, as well as Macquarie Resource Services, which is wholly owned by Exchange Minerals Limited.

The total consideration for the shares was A$447,702 and 51 shares in U.K. company Greenland Resources.