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Lydian investor Amber Capital now holds 5.9% of shares

Last updated: 14:26 19 Sep 2016 EDT, First published: 09:26 19 Sep 2016 EDT

Amulsar
Amber's shares diluted, stake reduced from 11.6% to 5.9%

Lydian International Ltd. (TSE:LYD) said investor Amber Capital U.K. LLP, on behalf of Amber Global Opportunities Master Fund Ltd., has had its beneficial ownership and control of Lydian securities diluted.

Prior to these transactions, Amber beneficially owned and controlled 21,431,500 ordinary shares in the capital of Lydian, which would represent approximately 11.6% of the outstanding ordinary shares of Lydian, based upon the 184,632,587 ordinary shares stated by Lydian to be outstanding as of May 11. Amber also beneficially owned and controlled 10,315,700 subscription receipts with each subscription receipt convertible into one ordinary share and three-quarters of a warrant.

Following these transactions, Amber beneficially owns and controls 31,747,700 ordinary shares in the capital of Lydian and 7,736,775 warrants, which, assuming exercise of the warrants, would represent approximately 5.9% of the outstanding ordinary shares of Lydian, based upon the 665,949,253 ordinary shares stated by the company to be outstanding as of Aug. 10, 2016.

As a result of these dilutive transactions, Amber is no longer required to file early warning reports under applicable Canadian securities legislation.

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