Ex ISR Capital executive director continues disposing shares

ISR Capital's largest shareholder David Rigoll on March 7 sold another 17.9 million shares in the company for S$804,030, or S$0.0448 per share.

This pared his stake from 26.07 per cent to 24.93 per cent.

Mr Rigoll, 54, who assumed the position in May last year, was responsible for overseeing the group's investment in the exploration and development of rare earth elements asset.

The disclosure came a day after it was also disclosed that he sold 21.3 million ISR shares for S$1 million on March 6, following his resignation as an executive director over a pay dispute with the board of directors. Mr Rigoll had accused ISR of not paying him his salary for February this year.

ISR Capital on Wednesday said that Mr Rigoll was breaching a moratorium by offloading some of his stake in the open market, and it will be seeking legal advice to take action.

At 9.47am, ISR Capital was down 0.1 cent, or 4.5 per cent to S$0.021.