LONDON (ShareCast) - (ShareCast News) - Pathfinder Minerals said the UK High Court has issued an order for the sale of a total 19.8m shares held by JV Consultores Internacionais Limitada (JVC) and Diogo Cavaco.
The ordered sale was a further important step in the company's enforcement of certain orders for payment of costs in England.

If the defendants did not pay a total of £1.4m, including interest, JVC's and Mr Cavaco's shares, or sufficient of them to discharge the debt, would be sold.

Pathfinder said proceeds would, in the first instance, go to satisfying the debt.

"The directors intend to maximise the value which will be obtained from the sale of the shares that are subject to the orders of sale at some point in the future, by way of an orderly placing," the company said.

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