Franco-Nevada buys 10 million Kenorland shares for $22.2 million, takes 12.42% stake
FNV•Franco-Nevada acquired 10 million Kenorland Minerals shares in private deals for $22.2 million, taking a 12.42% stake. It paid $2.22 per share and held no shares before the transaction.
1. Share purchases
Franco-Nevada bought 7,950,000 shares from John Tognetti and 2,050,000 shares from Kenorland CEO Zach Flood. Tognetti’s stake fell to 3,165,603 shares, or 3.93%, ending his insider status, while Flood retained 3,422,888 shares.
