Dermot Desmond : now has the option on warrants to buy up to 41 million more shares for an aggregate exercise price of some US$25 million. Picture: SNS Group via Getty
Dermot Desmond has pushed his stake in Mountain Province Diamonds, his Canadian mining company, to more than 35 per cent after spending almost CA$3.5 million on shares. Desmond’s stake, which he holds through Vertigol, a Dublin-based investment company, has now gone from 33.3 per cent to 35.4 per cent. The businessman has also extended a fresh round of financial support to the company in the form of a US$50 million loan facility.
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