London -listed shares of Cornish Metals Inc. fell 13% on Monday after the company said that Robert Wares, a significant shareholder, no longer has a notifiable interest in the company.
The mining company–which is also listed on Canada’s TSX Venture Exchange–said that Mr. Wares owned 11 million common shares, or 4.12% of its issued share capital, at the time of the company’s IPO last year.
“Following enquiries made by the company, Mr. Wares has informed Cornish Metals that he no longer has a notifiable interest in the issued share capital of the company,” it said.
Shares at 1049 GMT were down 3.15 pence at 20.25 pence.